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"Compared with US SMEs, Chinese ones have a more flexible demand. Therefore, they require IT service providers that can offer solutions adaptable to changes at any time," Dong said.

"China, for most of the time, surprises you in a good way," he said.

"China's determination to expand opening-up and the ongoing reform measures have made its financial market increasingly appealing to overseas investors," the administration said on Monday in a statement on its website.

"Commercial banks' general asset management business contracted last year, largely due to the newly released asset management regulations. But China's private banking sector grew unexpectedly, leading wealthy Chinese to invest in the country's key sectors to optimize social resources and accelerate the transformation of China's banking industry," said Bai Ruiming, deputy secretary-general of the association.

"Compared with our October 2017 projection, which preceded the recent US tax and spending changes, we now expect the United States' current account deficit for 2019 to be roughly 0 billion higher," he said.