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As the US government orders its tech companies to cut ties with China's Huawei, experts in Silicon Valley are concerned about the deeper effects, beyond trade and tariff tensions, that the move could have to the detriment of the world.

As the store is located in suburban Shanghai, with no close public transportation, some customers complained about the inconvenience to shop there and that it offered no big price difference compared to other supermarkets in China, according to the report. Also up to now, shoppers have still had to wait for a long time to enter the Costco store to buy goods due to heavy crowds.

As the first results of the action plan, China will allow a resumption in imports of US beef, and the United States is to import poultry from China. Most of the agreements are expected to be implemented by July 16.

As total social financing continues to grow, China's manufacturing PMI will likely stay in expansionary territory, investment bank CICC said in a research note.

As visits to offline stores fell following the coronavirus outbreak, 41 percent of Chinese families ordered FMCG through delivery platforms and retailers' own apps and mini-programs. Despite the decrease in penetration in the third quarter, online-to-offline (O2O) deliveries still attracted 31 percent of families in China.