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"Current domestic output is more than sufficient for China's requirements, including for real estate and infrastructure projects," Xu said, adding that Chinese companies are now looking to expand their footprint in overseas markets.

"China, like a lot of Asian countries, has a culture where parents want their kids to go to university. What we have to do is create a narrative depicting how skilled jobs are a good and better career option, and how it contributes to the community," he said.

"Cooperation grants SMEs a shared future and gives each party more insight for business growth," said He, adding that their development will contribute to a global economic boom.

"Coming as it does in the current context may add fuel to existing bilateral flames," Paal, now a distinguished fellow in the Asia Program at the Carnegie Endowment for International Peace, told China Daily. "It's the context of the US election and not the report that is crucial."

"China's fast growing 5G technology infrastructure, artificial intelligence, machine learning and digital related-business environment, as well as people's willingness to connect with various products via digital applications, are creating many opportunities, Michael Martin, vice-president of Nike China and general manager of Nike Direct China, said.