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The situation for foreign trade and investment, however, is still grim as the global spread of COVID-19, a severe global economic recession, and significant declines in international trade and investment as well as rising protectionism are all taken into account, according to Ren Hongbin, assistant minister of Commerce.

They also proposed encouraging enterprises to carry out global innovative cooperation on the basis of observing common international practice.

"Our business slumped in the first two months after resumption of work, as many people did not dare to leave their home or dine out," Fang said, adding that the turn came in July when more consumers began to dine in restaurants.

It is reported that, in his speech, Pompeo said the old paradigm of blind engagement with China has failed, and this kind of engagement has not brought the kind of change inside of China that the U.S. had hoped to induce.

Commitment to peace and harmony, he added, is deeply rooted in the mindset of the Chinese and has also been the cultural inspiration behind China's active pursuit of a community with a shared future for mankind.