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Andrew Tilton, chief Asia economist at Goldman Sachs, said it is encouraging that China managed to maintain a good growth rate last year and that policymakers have moved to rein in the country's rapid debt buildup.

And he said: "Both sides need to be pragmatic and realistic and adopt a give-and-take approach. Only in this way, can we get over the thorny issues and reach an agreement."

Analyst Humberto Jiron said the large Chinese community in Panama is "flourishing and contributes to the economic growth of the country". At the start of April it delivered 600 bags of food staples to the needy in the Latin American nation.

Analysts said that the launch of TSR 20 rubber futures trading is a concrete example of China's effort to push the opening of its financial market and to gain greater pricing power in international markets.

An uncertain trade outlook could also impact the freight business as well in February, the report noted, which is typically the slowest month for US imports of Chinese goods.