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China's domestic tech conglomerates have also sniffed out an opportunity, with both Alibaba Group Holding Ltd and Tencent Holdings Ltd setting up dedicated research units for developing AI diagnostic tools.

China's economy showed a significant rebound in the first half of 2020 amid the COVID-19 outbreak, as virus control measures consolidated and social activity resumed.

China's inexpensive goods have helped keep US inflation at relatively low levels and improved the well-being of its consumers. This has happened despite the fuss about the "huge trade deficit" with China, and concerns that the US stands to lose 0 billion every year, an argument used often to criticize China, Lin said.

China's major insurer said its net profit for the six months, ended June 30, was 12.24 billion yuan, up from 10.40 billion yuan a year earlier, and the first-half total revenue rose 17 percent to 396.17 billion yuan.

China's manufacturing sector expanded at a slower pace in September, partly due to weakened export performance, official data showed on Sunday.