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Analysts believe that the torrid growth of China's fintech sector will inevitably slow, which will present both challenges and opportunities for the companies, especially as more mature regulations are imposed, and a degree of consolidation may take place.

Analysts said the move by Goldman Sachs showed that foreign banks remain bullish about the prospects of their business in China as further financial liberalization is expected to bring more business opportunities.

Analysts say move will encourage more international competition and grow industry

And the hit to farmers would more than double if the tariffs expanded to an additional 0 billion of products. Farmer income would drop by 15 percent, and jobs in the sector would decline by 181,000.

Analysts said that the two countries should better manage their ties to prevent their deterioration, especially in economic and trade areas, which would harm both sides.