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But Pan, who has more than 30 years of experience in the Chinese property market, pointed out one problem that most co-working operators have to address: the short lifespan of Chinese SMEs, which currently make up the majority of co-working tenants.

But any bursting of a price bubble is unlikely to happen, Li said, as the number of listed firms will not increase sharply.

But Trump upped the pressure on lawmakers to get to work, hosting a bipartisan meeting at the White House where he raised eyebrows with his tough stance.

But Ningbo is not content to rest on its laurels and looking to up the ante. The export-oriented city, which has been upgrading its manufacturing sector and enhancing its competitiveness, has identified the biopharmaceutical industry as its next sunrise sector.

But domestic brands such as Mindray and SonoScape, which are both headquartered in Shenzhen, entered the medical ultrasonic diagnostic instrument market and their entry resulted in over 30 percent and 20 percent price drops for the low end and medium to high end color equipment respectively.