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Analysts believe the two deals have left US farmers at risk of losing market share in Japan to rivals with lower tariffs.

Andrew added: "I'm really pleased that the Chinese are very well represented at this evening's event and I'm looking forward to conducting next year's pitch in China … which is going to reinforce the relationship between China and the United Kingdom."

An unidentified analyst told Shanghai Securities News that currently regrouping in SOEs is aimed at absorbing companies in difficulties.

Ancient Chinese teachings tell us that "men of insight see the trend, while men of wisdom ride it". Humanity lives in a global village where the interests and destinies of all countries are intertwined. People across the world increasingly yearn for a better life. The trend toward peace, development, cooperation and mutual benefit is unstoppable. History has proved and will continue to prove that good-neighborliness will prevail over a beggar-thy-neighbor approach, mutually beneficial cooperation will replace zero-sum game, and multilateralism will win over unilateralism.

Andrew Frye, president of APAC at Baxter and senior vice-president of the company, said China is an "exciting" market.