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"By deepening a transformation of our retail banking business and increasing relevant investments in the next three to four years, we aim to achieve a 50 percent increase in the contribution of retail banking to our bank's operating income.

"COVID-19 in 2020 will push all industries to digital transformation," said Deng. "New retail models such as community group buying and livestream selling are likely to break through the existing barriers of online and offline channels and become a trend for the whole nation and overall industries."

"China is an important market for many companies and they will likely want to maintain a presence there," said Khatiwada.

"China has never compromised, and will not compromise when it comes to safeguarding the one-China policy," he said, adding that China will take countermeasures against the "destructive" US practice.

"By integrating the advantages of the socialist system and market economy, China can fully unleash the vitality of the market and at the same time ensure stable operation of the economy to avert economic crises," He Zili, a professor at Nankai University School of Economics, wrote in an article.