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Analysts also warned that a stronger Chinese currency may add pressure on the world's second-largest economy by hurting export growth if the yuan's exchange rate keeps rising against the US dollar.

Analysts said the strong growth momentum revealed that the country's mixed-ownership reform is generating results.

And, of course, the uncertainties over U.S.-China relations under the Trump administration are ever present for those working with companies on both sides of the Great Wall. If China figures out a more direct way to place tariffs on cloud computing, or if young Chinese technology workers educated by U.S. universities decide to come back home in greater numbers than they currently do, the competitive balance could shift even faster.

Andrews remained defensive of the approach which he said is the only real option available if Victoria wants to avoid a third wave of infections. "The notion that I have chosen this way to go and there were 50 other options I could have chosen, that's not in any way accurate," he said.

Analysts said the wind power focus of the oil giants reiterates their ambitions in advancing energy transformation and implementing the green and low-carbon strategy.