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"By deepening a transformation of our retail banking business and increasing relevant investments in the next three to four years, we aim to achieve a 50 percent increase in the contribution of retail banking to our bank's operating income.

"China is now Honeywell's largest market outside the US. It is our hope to carry out more profound cooperation with Pudong-based Chinese domestic companies, such as Commercial Aircraft Corporation of China. The solid groundwork that we have laid in Pudong will continue to drive our development in China, playing a crucial role in our integration into the country's digital economy," he said.

"China is doing wonderful things right now," said Sandy Vasan, an independent consultant.

"By staying within the WTO framework, that's consistent with the way international trade is regulated, and it does give a high ground that they are basically following the rules," he said of the Chinese mainland and several others that have filed the WTO cases over the US solar panel tariffs. But he said the US so far has been following the rules, too.

"China is undergoing a huge demographic shift, with the proportion of its elderly population aged over 65 on track to grow from 10 percent (of total population) today to 24 percent by 2050," said Domenico Savarese, global head of ageing at Swiss Re.