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"China will always be the builder of world peace, contributor to global development and the defender of the international order," he added.

"Companies that have business relations with the US have already felt the shock," said Li Jianwei, chairman of Hangzhou Euroluck Import and Export Co, a cloth and textile trader. Li said orders started falling from the second half of 2018 on fears of punitive tariffs, though textile was not included in the additional tariff list then.

"China will not force any technology transfer from any foreign company and will enhance efforts to protect intellectual property rights and severely crack down on infringement, and China welcomes more globally competitive businesses to share the China growth opportunities," Li said.

"City and rural commercial banks are targeting smaller clients with higher risks. Their level of comprehensive management is weaker than that of large banks, and they did not make accurate asset classification in the past based on risk exposure," Zhang Naixin, deputy director of bank ratings at China Chengxin International Credit Rating Co, said in an online conference on Thursday.

"Chinese auto brands have made great strides thanks to improved quality and after-sales services, and sometimes they even outperform certain global names," Shi said, adding that many of the company's exported vehicles were shipped from Chongqing to Shanghai via inland waterways.