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"Chinese businesses will inevitably take on a global leadership role as it participates more closely in this conversation. Yet a variety of barriers must be navigated in order for that leadership to be viewed favorably and with trust," the report said.

"Clearly June 18 being a shopping period rather than a day aims to provide customers with ample time to make purchase decisions, which is also a way to set it apart from the Singles Day," said Neil Wang, president of consultancy Frost & Sullivan China.

"Cooperation is the only choice for China and the US, and a better future could only be achieved through win-win cooperation," said Yuan Hao, commercial consul for the Chinese Consulate General in Los Angeles, who spoke at the event.

"Currently, financial risks are one of the most prominent and major type of risks in China … The country is still facing relatively huge pressure for a possible rebound in nonperforming loans, and the inventory of shadow banking activities is still fairly large, with frequent occurrence of law and regulatory violations," said Xiao Yuanqi, chief of the prudential regulation bureau of the China Banking Regulatory Commission, at a news conference on Friday.

"Compared with standard treatment, the use of HCQ for COVID-19 patients didn't help bring about a negative virus test result, nor did it shorten the term of the disease, and there exists a higher incidence rate of adverse drug reactions," said Xie Qing, director of the infectious disease department at Ruijin Hospital Affiliated with Shanghai Jiao Tong University School of Medicine, which led the multi-center research.