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As expected, China said at a meeting Monday that it would implement a proactive fiscal policy and prudent monetary policy, with supply-side structural reform as the main theme in the latter half of the year.

As an example, Nariyanuri cited India where, after the government withdrew 500-rupee (.60) and 1,000-rupee notes from circulation in November 2016, a temporary cash crunch pushed Indians to opt for cashless payment. And, he said, while physical cash did eventually return, cashless transactions nonetheless continued to surge in India.

As for the cost of the program, the central government will foot the bill for the mainland medical professionals and the laboratory fees. The Hong Kong Special Administrative Region government will pay about HK0 million (US.5 million), which will cover the expense of setting up the test centers, the wages of the medical professionals, and the cost of medicine.

As a result, "railway shipments (are) increasing dramatically, (and the cost of) railway freight may go up, supporting coal prices," he added.

As a two-term governor of the US state of Washington from 1997 to 2005 and United States secretary of commerce from 2009 to 2011, Gary Locke fostered economic relations between his state and China. Then, as US ambassador to China from 2011 to 2014, Locke worked to open markets for US-made goods and services.