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"Cutting the subsidies may not necessarily be a bad thing. It can help weed out the incompetent companies and allow the competitive to stand out," Ma said.

"Democrats have compromised. Repeatedly, we have made clear to the Administration that we are willing to come down trillion if they will come up trillion," House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said in a joint statement.

"Despite the weaker growth momentum of the overall home appliances market, the proportion of online sales hit a new high, because e-commerce platforms ensure good user experience by efficiently integrating online and offline services," the report said.

"Digital transformation is the core driver for upgrading and pushing high-quality growth of China's automotive industry," he said.

"Demand for container shipping continues to improve on a global scale. Both the United States and the European Union have seen strong demand for north-south trade in the Atlantic basin and improving conditions in intra-Asian trading lanes," said Dong Liwan, a shipbuilding professor at Shanghai Maritime University.