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"Ensuring effective transmission of the monetary policy has always been a challenge for policymakers. At present, a targeted policy approach seems to be the most effective way to do that," said Bloomberg's China economist Qu Tianshi.

"During the president's Chinese visit, we signed a Memorandum of Understanding with Chinese firms to supply the products in the neighboring market," Vinamilk's spokesperson said.

"Every time when we come across cases like this, they affirm our belief that we've provided a safe place to let out negative energy. And we are happy for that."

"Even if we wanted to, it would be difficult to lower our exposure to China-made parts," an executive at a Japanese automaker told Reuters, adding that over the past decade, Chinese suppliers had upped their game and now provide a vast range of quality, low-cost parts.

"Exhibition projects of many companies at home and abroad got postponed or canceled due to the COVID-19 pandemic. However, our business in China has been back on track. In August alone, we have five projects in Shanghai," said Rucci, who had to undergo a 14-day quarantine upon arrival in Tianjin.