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Concerns about losing share in the increasingly important international market due to the tariffs have arisen among US cranberry growers, said Terry Humfeld, executive director of the Cranberry Institute.

Companies may reduce their office space in high-priced high-rise office buildings in major cities, as some workers decide to leave for the suburbs.

Commercial 5G licenses will be catalysts for the construction of China's digital economy, which will form the core of the country's broader economy, said Kitty Fok, IDC China managing director.

Commenting on the officials' views Xu Ningning, executive president at the China-ASEAN Business Council, said business associations from China and Indonesia can work closely to better guide companies, as many lack sufficient understanding of local markets and related regulations.

Community-based elderly care is important to China's old-age care system. About 90 percent of the Chinese elderly prefer to spend their later years at home, 6 percent at community-level elderly care centers and only 4 percent at nursing homes, according to statistics.