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"But we are not pessimistic about the sales volume this year, partly due to the demand derived from machine replacement and exports," Lyv said in a recent research note.

"CIIE is a moment where all eyes of the world will be on China, and this could be a great moment to have important announcements followed by actions to show its willingness to open the market," he said.

"China is so integral to global supply chains for many products that a good portion - but not all - of the tariff impact will be passed onto US consumers. US firms will be the bigger losers," he added.

"By breaking down this secrecy and making it easier for consumers to see the truth about what their purchases support, the commercialized abuse and exploitation of animals will slowly but surely come to an end."

"China has undertaken substantial efforts to improve the domestic business climate for small and medium-sized enterprises, maintaining an active pace of reforms," said Martin Raiser, World Bank country director for China.