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And net profit generated by the retail sector showed even stronger growth, surging 68.32 percent on a yearly basis to about 15.68 billion yuan last year, accounting for 67.62 percent of the bank's total net profit.

Analysts from Beijing-based China International Capital Corporation Limited, or CICC, wrote in a note that the northbound investment - funds coming from Hong Kong into the Chinese mainland bourses - has mainly targeted blue-chip A shares since March-end.

And some other imports were removed outright from the list.

Analysts said this is because migrant workers have always sent money back to their families. But the pandemic has changed that, with lockdown measures shuttering businesses and increasing unemployment rates.

Andrey Denisov, Russian ambassador to China, recalled the relations between Russia and China over the past decades and hailed their ties as a "great harvest".