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"By setting up the new base, TCP hopes to better enhance its marketing and research and development capabilities by better understanding the needs, habits, and preferences of Chinese consumers and to develop products to better meet their particular needs," said Yoovidhya, adding that he was hopeful of creating something in China and then introducing it to the world.

"But the policymakers would need to skillfully manage liquidity so that the case does not fuel a series of defaults, which would make the market nervous. We expect the Chinese government will be able to manage the rising credit risks in China," Pang added.

"China has great potential in the consumer genomics testing sector. Compared with that of some developed countries, the market is still in its infancy in the nation," said Danny Yeung, co-founder and CEO of CircleDNA, a Chinese consumer genomics testing startup.

"China had a better environment for innovation in 2017, with increased investment and output as well as improved effects," the NBS said in a statement.

"China never pursues a trade surplus with any country, and the rapid development of Sino-US economic and trade ties over the past decades since the establishment of their diplomatic ties has proved that their cooperation is highly complementary and relatively balanced," the premier said.