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As the money flowed in, many companies have prioritized customer acquisition over profitability by offering deep discounts or free small-ticket deliveries. This has resulted in exponential expansion of the market with an annual growth rate of over 40 percent, said Eric Hor, associate partner of global consultancy Prophet.

As the international situation is undergoing complicated and profound changes, safeguarding multilateralism and free trade is not only at stake for the EU and China, but also for the rest of the world, said Juncker.

As the core function of the FTZ is to stimulate domestic and foreign trade, as well as attract foreign direct investment, the government will come up with more flexible policies to not only benefit State-owned enterprises and giant foreign companies, but also ensure small and medium-sized companies from all countries can profit from this platform, said Zhang Hongguang, deputy director of Dalian area of the Liaoning FTZ.

As the trade tensions have escalated after the United States imposed hefty additional tariffs on a large amount of Chinese goods, enterprises in China need to rethink the shifting of value chains and the consequences, the economist said.

As to the clamoring by some in the US for separating the Chinese economy from the US economy, Cui earlier said that the two largest economies are so interdependent and have such shared responsibility to the global economy that they couldn't just be disengaged.