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Another challenge is to find the right balance between government intervention and letting markets play a decisive role. Substantial progress has been made over the past two years; for instance, with reducing excess industrial capacity and the housing overhang, and government intervention played a critical role here. However, it is also broadly accepted that well-regulated and competitive markets are critical for increasing economic efficiency and productivity. This is exactly what China needs to achieve a high-income economy in the coming years.

Apart from a driver, a safety supervisor was also on each bus, whose duty was to make sure all passengers are healthy as their health code shows before boarding.

Apart from building infrastructure projects in many parts of the world, CHEC signed a 9 million financing agreement with the China Development Bank to build Lekki Deep Sea Port facility, about 60 kilometers from Lagos, a major city in Nigeria.

Anticipation remains rife that listings under ChiNext's registration-based reform would debut soon, after the Shenzhen bourse unveiled the first batch of successful listing applications on Monday.

Another area where the US and China can collaborate is pushing for personalized and data-driven control and prevention of the pandemic, especially when the economy is reopened, said Zhi-Yu Jiang, CEO of Virtual Enterprise System Solutions, a San Jose-based tech company.