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"But, to be clear, we do not see a recession in the near term. In fact, we expect some pickup in growth in the second half of 2019 and into 2020," she said, adding that the growth is set to benefit from the now more-patient pace of monetary normalization by major central banks led by the US Federal Reserve and "from increased stimulus, in China for example".

"China is following the European countries' technological road map to develop new energy vehicles. The government's willingness to work out a timetable is further evidence of the move toward new energy vehicles," Sun said.

"By having a large number of users, Mafengwo is able to produce big data analysis to cater for specific needs," she said. "This will transform travel products, but it will also be challenging for companies."

"China does not want a trade war with the US," Wang Shouwen, vice-minister of commerce, said at a news conference on Wednesday afternoon. "But China is not afraid of one."

"By all accounts, this was a very successful test," NASA Administrator Jim Bridenstine said.