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Angel Chen. [Photo provided to China Daily]

And it wasn’t just a marketing stunt; both companies showed up in countless product announcements, all without actually unveiling any new products of their own.

Analysts said the data show the pressure on industrial companies, but China’s consistent push for high-quality growth will help enterprises better deal with slowdowns in sales and their debt-asset ratios are likely to continue dropping.

Analysts at Citigroup said airlines will schedule flights without the MAX if the jet doesn't return to service in the fourth quarter. United Airlines said it will buy 19 used Boeing 737-700 jets to fill the gap created by grounded MAX aircraft. The 737-700 is an older, less fuel-efficient airplane introduced in 1993.

And the most immediate challenge is the impact of COVID-19 on the economy, which may lead to labor dislocation and slower growth in household incomes.