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"Considering that the 40-day Spring Festival travel rush is going to be completed on Feb 18, there won't be significant changes in the volume of passenger trips," he said. "It means the travel peak that appeared in previous years won't be seen this time."

"China's semiconductor display industry has taken large steps forward in the past decade, changing the display industry's global competitive landscape. China has transformed into the world's largest consumer market and manufacturing base for display terminals, with huge market potential," said BOE Vice-President Zhang Yu.

"China remains a key global growth stabilizer this year. Its second-quarter growth rebounded much faster than expected, led by production and construction, the highest across the globe," said Robin Xing, chief China economist at US investment bank Morgan Stanley.

"China's main social contradiction has changed and its economic development is moving to a stage of high-quality growth from a high-rate of expansion of the GDP," said Yang Weimin, deputy head of the Office of the Central Leading Group on Financial and Economic Affairs. "The biggest problem facing us now ... is the inadequate quality of development," he said at a news conference.

"China's countermeasures do not intend to purely pursue equivalence in the same amount as the US tariff rates. The latest four-level tariff rates have much more flexibility," said Gao Lingyun, a researcher of Institute of World Economics and Policies at the Chinese Academy of Social Sciences.