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"Companies that have business relations with the US have already felt the shock," said Li Jianwei, chairman of Hangzhou Euroluck Import and Export Co, a cloth and textile trader. Li said orders started falling from the second half of 2018 on fears of punitive tariffs, though textile was not included in the additional tariff list then.

"China's insurance depth, which was calculated by the premium to GDP rate, was over 4 percent last year, while the global average was over 6 percent," Rui said. "Also seen from the lens of average number of policies per capita, the number in the United States reached 6 while that of China was fewer than 1."

"Core technologies cannot be bought or traded, they must be created by ourselves," he wrote in a commentary for Guangming Daily, adding that some technologies have even become China's major bottlenecks and hidden security risks.

"Chinese consumers are increasingly cooking at home and like small home appliances with multiple functions and attractive appearances," said Si Zhenming, brand director of Joyoung.

"Climate change is driving this problem to a place where you simply can't deal with it," he said