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"China's smartphone market is declining because consumers are holding on to their phones for longer, operators like China Mobile have reduced their smartphone subsidies, and device makers such as Huawei have launched fewer 'wow' models to tempt shoppers back into retail stores. Some consumers are finding their smartphones 'good enough' and are pausing on upgrading," Neil Mawston, executive director at Boston-based Strategy Analytics, said in an email.

"China strongly urges the United States to abide by the one-China principle, the three joint communiques between the two countries and UNGA Resolution 2758, and immediately stop backing the Taiwan region, politicizing, and undermining international response to the pandemic," he added.

"China's new development plan to combine the construction of the domestic market system with the expansion of international markets will not only help strengthen the resilience of its economic development, but also provide huge growth opportunities for the world economy," Yang said.

"Chinese companies are differentiating themselves from other US-listed Chinese equities. In fact, Alibaba has even appreciated about 30 percent year to date. What this means is that investors are being selective. They see more potential in some firms compared to others. They are not lumping all of these companies in the same basket," noted Alejandro Ortiz, lead research analyst for SharesPost Inc.

"China will continually push forward the high-level opening up and welcome more investment from French enterprises and financial institutions. And the French side agreed to continue to open up trade and investment, provide non-discriminatory treatment to Chinese enterprises, and maintain a fair, transparent and predictable business environment," it said.