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Ao Yanjie, chairman of Beijing Union Smart Energy Co, an SME with 10 employees in the decentralized integrated energy sector, said he is looking forward to the actual effects of the government's supportive measures for SMEs.

Another reason for the success of King of Glory is Tencent's dominance over Chinese social media through its all-inone killer app WeChat, which boasts 870 million users a month in China alone, according to tech media company PingWest.

Apart from the supply side, demand side sectors including car sales, rent and after-sale services also face downturn pressure.

Another priority is to create a good business environment on the basis of law and regulations with international prospects, he added.

Any such tax cut would need congressional approval. President Barack Obama cut payroll taxes in 2011 and 2012. The taxes fund Social Security and Medicare.