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"Currently, China is shifting its focus of opening-up from trade in goods to trade in services. During the first seven months of this year, China's trade in services stabilized, trade deficit decreased and knowledge-intensive industries grew despite the challenges brought by COVID-19.Services trade has become a new bright spot in the development of international trade," he said.

"Contrary to what was alleged in the US President's Executive Order, these agreements are not US' preferential treatment for Hong Kong. They are bilateral agreements negotiated in good faith to benefit the peoples and businesses of both sides in areas of law and order, shipping and tax treatment. The US' unilateral decision reflects its disrespect for bilateralism and multilateralism under the current administration and should be condemned by the international community," a spokesman for the HKSAR government was quoted as saying in a press release.

"China will take multiple measures to further increase imports next year such as hosting the second China International Import Expo and increasing imports of agricultural and resource products."

"Customers won't buy our clothes if there's no innovation in the costume design," Yeshi Tsogyal said.

"Considering China's domestic situation, which is at a different stage of the economic cycle compared with the US, China now should not tighten (the monetary policy), but may moderately ease under some circumstances," said Yu Yongding, director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, who served on the Monetary Policy Committee of the People's Bank of China from 2004 to 2006.