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Analysts said asset quality improved at most banks after they readjusted their credit structure by issuing a larger amount of consumer loans and mortgage loans, which are less sensitive to economic cycles than loans issued to the manufacturing sector. Besides, banks also stepped up efforts to write off nonperforming loans.

And despite this hurdle, China-Germany cooperation has never been stronger. China is Germany's largest trading partner and Germany has remained China's largest trading partner in Europe for over four decades. The high rate of exchange of visits by top leaders — this is Li's fourth visit to Germany, and Merkel has visited China 11 times — underlines an exemplary relationship that is built on broad common interests and shared aspirations. Apart from trade, the two countries see eye to eye on issues ranging from the Iran nuclear deal to the climate change agreement.

An unrealistic target would push local governments to take aggressive stimulus measures, especially by promoting infrastructure investment. That could lead to a "flood" of monetary easing, and capital-intensive infrastructure investments would not be helpful for reducing unemployment in the short run, he said.

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.

And I just got a CES pitch in my inbox with this subject line: “Meet Your Future Humanoid Robot Yogi.” You get the idea.