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"Financial reporting quality of overseas listed Chinese firms has improved substantially in recent years. It is nearly impossible to see a rather large batch of Chinese firms face short sell attacks as we saw in 2010 and 2011," said Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology.

"For example, WeChat's strong functionalities can meet one's daily needs without leaving the app, but that level of user engagement (of Douyin) allows it to bypass bigger rivals' platforms," said Liu Dingding, a veteran internet analyst in Beijing.

"Getting VERY close to a BIG DEAL with China. They want it, and so do we!", US President Donald Trump tweeted Thursday morning.

"GPG is seeking to expand Sino-foreign cooperation, merge with, or acquire, overseas companies, entrust foreign distribution agents and introduce digital distribution to increase its presence in the world market in the years ahead."

"Following restrictions placed on Huawei, a group of Chinese tech companies have been devoted to ensuring a sustainable supply chain and continued innovation efforts," said Xiang Ligang, director-general of telecom industry association the Information Consumption Alliance.