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Analysts said this a reflection of the overall weakening economy, but profit growth of those firms may gradually pick up starting from the second quarter as the country's supportive policies take effect.

Analysts said the phase-one agreement will benefit both countries and the whole world. But uncertainties still exist, they said.

And 10,000 yuan, or a quarter of their monthly income, goes toward mortgage repayment. "A second child is on our minds, but we're not sure if we should try, given the financial implications," Gao said.

Analysts said the much-anticipated revision will make the SCI less volatile and more effective in reflecting the market performance of Shanghai-listed firms, as part of the nation's ongoing efforts to spur a healthy development of the equity market.

Andreetta said most tourists surveyed who traveled to China for winter vacations came from nearby countries such as Malaysia, Thailand and South Korea. Most of them were affluent millennials who spend the majority of their leisure time skiing and snowboarding.