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"China is and will remain our largest single market... We want to continue to grow profitably there and to develop products and services that are precisely tailored to that market," Schot added.

"China may want to utilize this time window, as the US dollar's weakness may persist and as the next Special Drawing Rights review draws near."

"China may also increase input in science and technology, research and development, and education," she said. "Its investment in basic research and frontier technology fields, such as semiconductors, robotics and high-end manufacturing, is expected to increase and further push development of the digital economy."

"COVID cases are continuing to climb nationwide and with the holiday season in full swing. It could get worse before it gets better," Governor Andrew Cuomo was quoted as saying.

"China is the biggest single market in the world," said Francis Sum, president of China with Volvo Construction Equipment.