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As a result of the tariffs on billion worth of imported goods from China, the cost of a fireplace goes up 10 percent, quartz and granite countertops rise 10 percent, garage doors 5 percent, and sheet metal products for heating systems are up 10 percent, said Ed Waller, CEO of the Windsor, California-based Shook and Waller Construction Inc.

As a key project of State Grid critical to the UHV ring grid in North China, the project adopted UHV AC technology which features long-distance large capacity transmission and will transmit abundant clean power from Zhangjiakou to the load center of Xiong'an New Area of Hebei province without burdening Beijing's 500 kV ring grid. After entering operation, it will deliver more than 7 terawatt hours of clean power to Xiong'an every year, achieving 100 percent clean power supply for the new area.

As cited by the European Commission in its virtual summit with President Xi Jinping, focusing on the advancement of an investment treaty and sustaining mutual agreements on market access must remain a priority.

As early as during the Asian financial crisis in late 1990s, China had already started to realize the importance of domestic demand. Back then, the crisis dampened China's export sector and the country had to struggle to stimulate domestic demand to expand its economy.

As a major step in China's financial opening-up process, government officials have vowed to ensure the stock connect starts trading by the end of the year.