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Business doesn't care for uncertainty, and the current trade tension among the world's economies is creating enough upheaval that Spiesshofer is concerned about the potential fallout.

Brafman said in a May court filing that federal prosecutors in New York had opened a separate criminal investigation into the allegations.

Broadly defined shadow banking assets declined by nearly 1.7 trillion yuan (0 billion) in H1 to 59.6 trillion yuan, the lowest level since the end of 2016, according to a report by credit rating agency Moody's.

Business vibrancy has been boosted by these policies. Over the past 12 months, more than 29,000 new companies have set up offices in the Suzhou FTZ Area, with the total registered capital amounting to 85.2 billion yuan (.5 billion).The area has also attracted some 948 technology projects, among which 81 percent are from the emerging industries of biomedicine, nanotechnology and artificial intelligence.

Business leaders in the Bay Area gathered on Wednesday to raise their voices and articulate a clear message to the Trump administration: adding trade friction to the bilateral relationship between the US and China won't help either one grow; the two sides should engage in conversation instead of confrontation.