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"By 2020, technologies including 5G and cloud computing are expected to embrace an explosive growth in China. It will bring a new round of growth in server businesses in the market," said Duan Meng, a senior analyst from market consultancy IDC.

"But not all have already or are projected to recover by next year. China is the only major economy that has recovered already to pre-pandemic output levels, thus its 8 percent growth rate will look high due to the low base this year," she said.

"China makes the high-road call for 'matters of principle' and directly addresses what is reported to be the prime area of disagreement: enforcement," he said. "China asserts that if a trade agreement is reached, it will honor its commitments sincerely and faithfully."

"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"By connecting to the world and continuously optimizing the business environment in recent years, Shandong has created favorable conditions for the development of enterprises and promoted investment in high value-added industries," he said.