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"From a long-term perspective, we will not stop at in-licensing. We will deploy more financial resources into innovation to put our growth on a firmer footing."

"Global sales of OTT TVs will amount to 260 million units this year, with revenue from advertisements reaching 7 billion yuan to 9 billion yuan. Moreover, the deployment of 5G technology will make the transmission of 8K content possible, as well as boosting the development of the internet of things," Peng said.

"Foreign firms, such as our own, often have to hire talented people with financial and language capabilities, and an understanding of international compliance standards. We have seen a huge improvement over the last couple of decades in this area and the key reason is China's opening up," Lu said.

"For American farmers this isn't theoretical anymore, it's downright scary. It's no longer a negotiating tactic, it's a tax on their livelihoods," Brian Kuehl, executive director of Farmers for Free Trade, said in a statement on Friday.

"Fundamentals of China's long-term economic development and its competitive advantage in attracting foreign capital have not changed," said Zong, adding that most of the multinational firms are confident about prospects in the country and have not altered their investment strategy.