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"Crude has become a bigger problem for markets than the coronavirus," Adan Crisafulli, founder of Vital Knowledge, told CNBC. "It will be virtually impossible for (the S&P 500) to substantially bounce (back) if Brent continues to crater."

"Chinese parents are obsessed about education, something that is based in the culture," said Jeff Zhu, vice-president of Shanghai-based Dipont Education Management Group. "It has always been perceived as the main, if not the only, ladder, for the elevation of social status."

"China's regional aviation market is still in its initial stage of development. Most plateau airports globally are located in western China, and China is a great market with rich opportunities for the growth of the regional aviation sector," said Li Guijin, a professor at the Civil Aviation Management Institute of China.

"China's tariff plan is based on thorough research and analysis. It is much more rational compared with the 25 percent tariff hikes threatened by the US ... which is a trade 'stick', " said Li Yong, a senior research fellow at the China Association of International Trade.

"Cooperation between China and the US not only leads to a win-win situation for the two countries but also benefits the world economy, while confrontation only causes damage to both sides," he said.