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As the business model and product content evolved, services rather than real items, have also become the new growth point targeted by both physical stores and e-commerce platforms, said Li Dongjin, a marketing professor at Tianjin-based Nankai University.

As the epidemic is now in check and pre-holiday bookings are booming, the tourism market could be more active during the upcoming holiday than during the previous holidays in May and June, said He Yanqing, an analyst with China Securities, prior to Oct 1.

As the COVID-19 epidemic has disrupted the global economic and trade orders, there have been concerns about whether the agreement can be fulfilled.

As to the cause of the overall US trade deficit, "that's fundamentally an issue of savings relative to investment," Shatz stressed. "The overall deficit is the bigger point of concern."

As the population ages, China is trying to increase the value of its locally managed pension funds to cope with the needs of its aging population.