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"Competition between domestic makers and their foreign rivals is going to become more intense in the coming future. Without comparative edges, foreign smartphone vendors are going to lose even more market share," said Roger Sheng, research director at consultancy Gartner Inc.

"Cooperation is the only choice for China and the US, and a better future could only be achieved through win-win cooperation," said Yuan Hao, commercial consul for the Chinese Consulate General in Los Angeles, who spoke at the event.

"Currently, there are a total of 130,000 stations for the monitoring of various types of hydrological information across the country," the ministry said. "Previously, these stations could collect precipitation and hydrological information no more than four times a day. Now, the information could be collected every hour. If needed, it could be done every minute."

"China still has the best production supply chain of anybody in the world, and as it turned out, they were able to tackle the pandemic faster and more efficiently than anybody else," he said.

"China's manufacturing economy continued to recover at a relatively quick pace in October," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.