Liu Baokui, a researcher at the Institute of Spatial Planning and Regional Economy at the NDRC, said that private investment is an indicator of economic vitality and the new measures come at a critical time, as the relaxation and optimization of COVID-19 regulations is expected to embolden previously timid private investors.

"Gong said she grew up shy and timid, but all that changed when she coaxed herself to toughen up mentally every time she skied.

During this process, financial departments should not be too timid about coal consumption but rather come up with a financing mechanism that can serve China's green transformation.

Faced with a timid domestic market, some are expanding their global reach to seek out new development.