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China had a cash-based payment system with low credit card penetration, so there were few barriers to the adoption of mobile payments, according to Weisblum. This has allowed for the rapid development of a robust Chinese internet and super-apps like WeChat, which exceeds the functionality of American apps and provided more interactive opportunity for retailers to customers.

China has become the world's largest green energy supplier after years of development, taking the lead in photovoltaic development and making a great contribution to the global energy transformation, he said, adding that the key to success is identifying promising technologies.

China has been the US' largest source of international students over the past decade, according to the Institute of International Education. There are more than 300,000 Chinese students studying in the US, but the number has been on a decline in the past few years, which experts attribute to the "Trump effect".

China has created 11 free trade zones where foreign firms can enjoy streamlined registration procedures. The country is shortening the list of sectors that are off-limits to foreign investors, as well as reducing market entry restrictions for industries such as transportation and financial services.

China does not need to follow suit by raising its interest rate, said Yu Yongding, former member of the monetary policy committee of the People's Bank of China. "China needs to keep its interest rates stable," said Yu, an economist of the Chinese Academy of Social Sciences. "China has been able to resort to capital flow management to absorb the effect of the US interest rate hike, and the hike has been priced in by the market."