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One of the three companies will be listed on the Shanghai Stock Exchange, while the other two will be listed on Shenzhen's ChiNext start-up board, according to the China Securities Regulatory Commission (CSRC).

Calling the move "unreasonable" and "extremely wrong," Gao said the U.S. side has misjudged the situation and will only "shoot itself in its foot."

Trong called on Vietnam and China to properly handle the maritime issues existing between the two countries through friendly consultations. As a transitional method, the two sides can explore joint development and joint safeguarding maritime peace and stability, he suggested.

"At that time, Hainan was a relatively backward border province with poor infrastructure, and you couldn't even see a traffic light," said Shen Xiaoming, governor of Hainan.

Believing the measures are "making no sense," "sending the wrong signal" or "absolutely unacceptable," they warned of serious damage by the planned tariffs to the international trade order, vowing to take "responsive measures" if necessary.