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Another factor that has often been overlooked is that US control of high-tech exports to China contributes a lot to the trade deficit with China, Minister of Commerce Zhong Shan said earlier last month, quoting one US research report that estimated a 35 percent drop in the trade deficit with China if the US relaxes export restrictions.

Apart from being a major production and research and development center, China will also be a major consumer of its products, the company said.

Another edge for Biden

Ant Financial Services Group, the payment affiliate of Chinese e-commerce giant Alibaba, is close to closing a .5 billion debt financing round, US cable business channel CNBC reported.

Apart from reducing the review period, the office will launch online application services for trademark oppositions and invalidations this year, and continue to crack down on malicious trademark filings for a fair market, Cui said.