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But still there will be plenty of investment opportunities in China driven by digitalization, innovation and rising income, Youngkin said. Therefore, consumer and retail, healthcare, especially health technology, financial services and insurance, and the global energy industry are the sectors likely to promise higher returns, he said.

But then came China's additional 25 percent tariff on US lobster exports in response to tariffs on Chinese goods imposed byUS President Donald Trump.

But the Inspur incident highlights once again that Chinese tech companies are facing increasing uncertainties in their supply chains as Washington has intensified its push to crack down on them and new US export restrictions keep popping up, analysts said.

But still, Liang said he believed there is much room for growth in the Chinese fashion industry compared to other markets like Japan and Europe.

Buttigieg had been rumored for several different spots in Biden's administration. He was surprisingly competitive during the Democratic Party primary, winning the first-in-the-nation caucuses in Iowa, showing formidable fundraising might and enjoying massive popularity on social media.