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Du Si (second from right) dances with several members of her troupe at a park in Beijing. HOU SHIPING/FOR CHINA DAILY

Due to changing market conditions, Altria, formerly known as Phillip Morris, lowered its three-year growth forecast to 5 to 8 percent from 7 to 9 percent.

Dong said: "The US side needs to realize that trade bullying measures are not workable solutions to address existing issues with China. Furthermore, it is necessary to build a new mechanism that can fit the environment where the economic strengths of China and the US have been changing."

During a recent audit of funds allocated to projects intended to help impoverished residents of Gulin county in Sichuan, auditors spent seven hours on the road from Chengdu. During the audit, they were shocked to discover that a local company had fraudulently claimed thousands of yuan by using fake documents.

Dong said that on the one hand, this law will help protect consumers from buying fake or substandard products. However, on the other hand, it will likely increase the cost of buying imported products.