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"China always regards Europe as a comprehensive strategic partner and an important global power which is indispensable," said Li, adding that China is happy to see Europe maintain unity, stability, openness and prosperity, and supports the integration process in Europe.

China's digital economy reached 31.3 trillion yuan (about 4.6 trillion U.S. dollars) in 2018, accounting for 34.8 percent of the country's total GDP.

Historical records show the number of tourists flocking into the 250-meter-long street peaked at 100,000 a day in the 1980s. As many as 89 jewelry stores opened in its heyday and sold 5 tonnes of gold jewelry in half a year.

With Washington ramping up pressure on China and other trading partners, analysts worldwide have said such self-inflicted tariff hikes will also give a body blow to the global economy.

The easing of trade tensions between China and the United States came as no big surprise, as it is common wisdom that a trade war will not address the sticking points between the two sides, only dialogue can.