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The traditional retail industry is facing new challenges due to the impact of online shopping and changing consumer behavior, and malls are upgrading their business models through various kinds of innovations.

The truce in the Sino-US trade dispute and their decision to go back to the negotiation table will support the near-term economic growth and reduce risk-aversion sentiment in the market, said Michael Taylor, managing director and chief credit officer for Asia-Pacific at Moody's.

The two countries also agreed to strengthen law enforcement and security cooperation, and enhance military exchanges and their defense partnership, Wu said.

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The undeclared waste has been a real headache for Shanghai for a long time, said an official with the Shanghai customs. "The city will intensify the inspection on imported waste in the future."

The transformation from low-price manufacturer to premium brand is not easy. In addition to increased costs for labor and raw materials, such as rubber and petroleum products, the end of last year saw the exported goods price index for footwear products fall by 10 percent from 2015.

The treatment, which has already been received by more than 70,000 patients, has shown some benefits, but without rigorous trials, questions remain about its actual safety, effectiveness and appropriate dosage. Trials to date have been hampered by delays and trouble finding volunteers.

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The two sides should properly address each other's key concerns on the basis of equality and mutual respect, create favorable environment and achieve common goals, said Liu.

The two countries should deepen local-level cooperation, and give priority to working together in cross-border infrastructure construction, resource exploitation, modern agricultural methods and production capacity, he said.

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The twice-a-year fair, also widely known as the Canton Fair, is being held in Guangzhou, the capital of Guangdong province.

The trip to China reflects Switzerland's support for the Belt and Road Initiative. It also highlights the very positive relations prevailing between Switzerland and China, she said.