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"China has one of the most vibrant venture capital and startup markets in the world," Thurston said, noting that the country's thriving technology, internet and e-commerce industries offer a fertile investment environment.

"Canada, Mexico, the EU and China have already retaliated — or announced plans to retaliate — with billions of dollars in tariffs on US-made products," the US Chamber said, adding that approximately billion worth of US exports will be subject to retaliatory tariffs as of this week.

"China is a Strategic Partner of the European Union. We pursue strong bilateral and multilateral cooperation on files where we share interests, from trade to connectivity, from the JCPOA to climate change," said EU foreign policy chief Federica Mogherini.

"Cash flow problems are forcing some SMEs in property to sell off some of their projects, or offload equity stakes, and sometimes sell out totally."

"China has unmet demand for quality medical and pharmaceutical services. This implies a huge market for US companies," he said.