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And the new Foreign Investment Law that went into effect Jan 1 has further broadened market access for foreign investment. In addition, China also has lowered tariffs for some imported goods, which will open up new prospects for its economic and trade cooperation with the US.

And just like that, an idea was born: perfume made with the same scents found in wine.

An unprecedented number of Chinese deals were delayed or abandoned last year as parties failed to obtain approval from the CFIUS, it added.

An oft-asserted critique is that China's SOEs have a lower return on capital than private companies do, implying that the SOEs use resources less efficiently. It's true that the return on assets in the private sector was 7.6 percent versus 3.3 percent for SOEs in 2019, according to the National Bureau of Statistics. But the claim that this implies that these lower capital returns reflect poor efficiency is simply an inaccurate interpretation of economic theory.

Andy Jassy, senior vice president of AWS (Photo: GeekWire)