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"Debt-to-equity programs work well for companies that are facing short-term obstacles but are expected to see profits in the future," said Xu Gao, chief economist with China Everbright Securities. "The key is to ensure the programs can be implemented using legal means and with high transparency."

"Despite the impact of the pandemic, we have witnessed satisfying growth," said Ma Ruilong, who started doing cross-border e-commerce in 2017 and moved his company to the West Coast New Area in May.

"Developing green finance is an essential element of China's supply-side structural reform in the financial sector. By offering financial products that conform to the philosophy of innovative, coordinated, green, open and shared development, we will better adapt to the changing economic and social demands and promote high-quality development," said Yang Lijie, deputy director of the administrative committee of Liangjiang New Area in Chongqing, a major city in Southwest China.

"Facial recognition is now already widely used to help smartphones shoot better pictures, to simplify security checks at railway stations and airports and to help police to track suspects and spot suspicious behavior in China. Such application scenarios are also of great potential in other countries," He said.

"Even if the dispute is resolved, distrust between the two countries will remain," said Song Changgeng, senior analyst at China's research firm ICwise.