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"First, incomes need to grow faster. Second, household consumption is rising and demand for high-quality goods and services is growing. However, there is still insufficient domestically made high-end products and services to meet demand."

"For that reason alone the current approach to the US-China trade dispute is flawed, as are the tariffs that underpin it," wrote Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia. "There can be no bilateral fix for a multilateral problem. That has only led to trade diversion among trading partners —imposing higher costs on consumers and producers on both sides."

"Go to Moscow" is a Russian competition set up in 2014, under which, students of universities in the alliance who score good marks get a scholarship to study Russian at Moscow State Pedagogical University.

"Fixed-asset investment, especially infrastructure, may slow further in the coming months as tighter financial regulations, especially regarding shadow banking, are starting to bite," he was quoted by Bloomberg as saying.

"For sellers, the average price is not rising as fast as it used to. Sellers would think they might yield higher returns when the price grows further," said Yang.