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Another reason why Chinese tourists are less interested in shopping overseas, according to Li, is that the quality of made-in-China products is improving. Also, the influence of Chinese brands is growing. "The time when Chinese people rushed to buy milk powder, frying pans and toilet covers at stores outside the mainland has long passed into history."

Another participant, a middle-aged woman, said housing was her first concern. "I hope the government's allocation of resources will not disproportionately favor one particular demographic, such as a certain age group or single people."

Apart from domestic institutions, overseas funds have begun to focus on small-cap stocks listed on the A-share market, market people said.

Another factor buoying up the market are the raft of supporting policies for the cruise industry rolled out by a number of government departments in recent years.

Apart from improved overall health, residents have had increasing opportunities to earn higher incomes and enjoy a better life.