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And the council so far has handled 582 of complaints, up 1.25 times from the same period of the previous year, according to a statement released by the council on Wednesday.

And, of course, there are some challenges we have to think about and overcome in order to move forward.

Analysts also said the easing yuan will help stabilize China's exports, which grew by 5.5 percent in August in dollar terms, the second consecutive month that the growth rate had fallen.

Analysts said consumption is expected to continue to rise on the back of strong demand and growth in high-end sectors like jewelry.

Analysts expect a sharp economic contraction in the second quarter. Unemployment is expected to spike and consumers are expected to reduce spending. Consumer spending represents about 70 percent of the US economy. A sharp reduction in spending and demand could lead to a downward spiral.