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Chang is also vice-chairman of the China General Chamber of Commerce and an advisory council member with the Brookings Institution, a Washington-based think tank.

Cecily Liu contributed to this story.

Charlene Barshefsky, the US trade representative at the talks, was none too optimistic until Zhu intervened that morning to agree on three Chinese concessions.

Central banks of many major economies have eased monetary policy via cuts in interest rates and unconventional measures such as purchasing government bonds, to help the functioning of markets. The People's Bank of China has remained relatively cautious by leaving policy space that will allow banks to strengthen capital and liquidity buffers to increase credit for smaller firms.

Charter flights arranged for thousands