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As the world's largest developing country, China has been actively integrating into the world economy and firmly defending the trade system since joining the World Trade Organization (WTO) in 2001, Gao said.

As the two payment giants raise the stake in their battle for bigger overseas market shares, Hong Kong has naturally become the "first stop" to localize their payment apps, which secure a combined 94 percent overseas mobile payment market share of the world's second-largest economy.

As visits to offline stores fell following the coronavirus outbreak, 41 percent of Chinese families ordered FMCG through delivery platforms and retailers' own apps and mini-programs. Despite the decrease in penetration in the third quarter, online-to-offline (O2O) deliveries still attracted 31 percent of families in China.

As the contagion has been effectively controlled in China, in addition to meeting domestic demand, Chinese medical equipment producers are also stepping up efforts to offer assistance to overseas markets, Chen said. "There is no reason for the country to restrict the export of medical supplies," she added.

As trade talks between both countries gather momentum, working-level talks are slated to be held next week in Washington ahead of the next round of ministerial negotiations later this month.