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Analysts say the IPOs will help the three startups, Nio, Li Auto and Xpeng, to get a better foothold as competition in the Chinese market is heats up.

And it's not just retailers that are noticing the boom in sales. Those in the food industry have also been riding on the growing wave of the Christmas spirit.

Andrey Kalachinsky, a political commentator in Vladivostok, in Russia's Far East, shared his views in a post on the news website Vladnews in June.

Analysts say the interest rate reform will lower financing costs for small and private companies and encourage investment in the manufacturing sector.

And now, with energy holding key to global economic growth, the future is pregnant with exciting possibilities, industry experts said.