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As China sets the global pace in e-commerce, it is doing the same in livestreaming.

Approved by the State Council in 2014, the China (Fujian) Pilot Free Trade Zone now covers districts in Xiamen, Fuzhou and Pingtan, totaling 118.04 square kilometers.

As Citibank estimated, China's GDP growth might be slowed by 0.23 percentage points once the tariffs are imposed. As China has various trade partners worldwide, coupled with the Belt and Road Initiative, the impact will be quite limited, said Wu.

Apple, heavily dependent on China for assembly of its iPhone and laptops, closed at 8.97 a share, up .49, or 4.2 percent. The latest round of tariffs would have hurt Apple's launch of this year's new iPhone line, which usually happens in late September.

Apple has topped Forbes's 100 most valuable brands list for the ninth consecutive year. Valued at 5.5 billion, Apple is the first company to cross the 0 billion threshold, Forbes said.