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"Chinese companies looking to acquire beyond China's borders focus on achieving dual goals—winning at home and exporting abroad, which enables them to strength their domestic competitive stance while simultaneously positioning for global expansion especially in developing markets," said Phil Leung, partner of Bain & Company.

"Cultural relics are not renewable and cannot be replicated. If they are destroyed, the country will lose precious items of historical significance," he said.

"Currently Huawei lacks the ability to challenge Apple and Samsung in the high-end smartphone market and the focus on low and middle-end market has become one of the firm's key strategies in 2018 to maintain growth."

"China's Position on the China-US Economic and Trade Consultations", a report released on Sunday by the Cabinet's Information Office, reiterated that Beijing does not want a trade war but is not afraid of one, that it won't back down on "major issues of principle", and that its only intention is to reach a mutually acceptable deal.

"Compared with traditional retail business, tailored production will have no pressure of overstocked products. Besides, the demand is continuous," he said.