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An outbound Chinese tourist pays with Alipay at the checkout of a shopping mall in Sydney. [Photo for China Daily by Xu Kangping]

And Conte said he is also happy that Xi plans to visit Palermo, the capital of Sicily, a city Conte described as "beautiful" and "at the crossroads of East/West cultures". He said the visit to the island was like"a tribute to President Mattarella", who was born in Palermo.

Analysts are also speculating whether China would retaliate by dumping US Treasury bonds as a countermeasure, which was seen as a "nuclear bomb" in the financial markets.

And Chinese consumers are not hesitant about paying for such a service, with more than 90 percent expressing their willingness to pay a premium for a vehicle that can communicate with other vehicles and road infrastructure to improve safety.

Analysts said results of the latest economic census showed that China has made progress in high-tech industry development.