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"For the first time in months, the United States and China are moving in the right direction on tariffs and we congratulate negotiators from both sides," David French, the federation's senior vice president for government relations, said in a statement.

"Furthermore we remain very confident in the medium and long-term business outlook of our No 1 worldwide market."

"Growth of mobile payment tools is faster than that of any other payment models. The trend indicates that mobile payments will become the mainstream payment model across China in the near future," said Zhou Yuedong, vice-president of the credit card division of ICBC, the country's largest lender.

"Having passed the stage of massive expansion to meet growing demand, the industry is relatively stable in both production and consumption, which opens a window for capable companies to expand, with deal momentum surging in the next few years."

"Given that the enthusiasm of investors oversubscribing for ZhongAn's offering runs really high, we have good reasons to believe the upcoming technology flotations could come as a 'booster', putting Hong Kong on course to secure the third spot, with as many as 150 firms raising up to HK0 billion for the whole year round," Kay said.