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But at a news conference following the announcement, Fed Chairman Jerome Powell said the rate cut was a "midcycle adjustment", indicating that additional cuts later this year were not assured.

But Ren said the past three decades have proved Huawei has no backdoors. No suppliers have been facing stronger examination than the company. And to make extra effort to reduce worries, the company is willing to ink "no backdoor" agreements with foreign governments, Ren said.

But her grandson Farouq, 31, is now doing the same work much quickly and easily, because he bought a grass-cutter machine imported from China.

But overall such trends will inevitably squeeze profit margins, as average spending per capita from these cities is normally lower than those in cities such as Shanghai and Beijing, said Cao Lei, director of the China E-Commerce Research Center.

But investors also pointed out that Chinese cities still need to tackle a series of challenges before they become global cities, including IPR protection, environmental protection, further opening-up and continuous innovation, as well as self promotion.