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"For China, it is an appropriate time to be a bullet train manufacturer in the world market," said Yu Weiping, CRRC's vice-president.

"Furthermore, the escalating trade dispute between Japan and South Korea will cause a domino effect on the global supply chains in computer and smartphone industries, affecting the economic stability of Northeast Asia region and even the whole of Asia, since both countries are important contributors to the Asian economy," he said.

"For great powers such as China and the US, competition — even conflict — is natural," Cui said. "It is, however, vital for us to manage such competition in an effective and constructive way."

"Hainan is building a free trade port as well as becoming an international tourism and consumption destination," said Wang Jiansheng, chairman of the Hainan Tourism Development Research Association. He said that under the new duty-free policies, duty-free shopping has become the biggest highlight of the destination.

"From this time on, the nuclear deal is an accord between Iran and five countries," Rouhani said in live speech broadcast from state TV.