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Christine Lagarde, International Monetary Fund managing director, said the IMF does not now see the threat of a global recession sparked by trade dispute. Instead, she said growth will slow, but the world economy won't slide into a recession.

Cities even bought advertising around Amazon’s Seattle headquarters, putting their pitches on billboards, public transit, and chalk on the sidewalk.

Clearly, the foreign companies have disadvantages in competition with Chinese commercial banks and insurance giants who are more knowledgeable about domestic clients' needs, according to Wang.

Chinese startups are coming to the world. I think this is China's century and it's exciting."

Christopher Ledsham, chief communication officer at China Outbound Tourism Research Institute, said: "A social media marketing approach such as Tourism Ireland's successful example, is certainly one that has worked for many destinations before and can continue to be effective in the future for other destinations, if done correctly."