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Analysts say higher US inflation and interest rates have made holding US treasuries more expensive, reducing overseas demand for US treasuries in recent months.

Andrew Miles, president of Sam's Club China, introduces products to a member in Shenzhen. [Photo provided to China Daily]

And the global trade pattern will hence become more scattered, while the reorganization of supply chains will be shorter and more diversified, Moody's said. "Though it could be healthier, however it could also lead to low efficiency and high inventory," it added.

And Guangzhou Baiyun International Airport has become the third-largest airport in the mainland. The airport, which handles 230 international flights, registered more than 70 million passenger/visits last year.

Andy Mok, research fellow at the Center for China and Globalization, an independent think tank in Beijing, believes such legislation is vital if China is to advance to the next stage of its development.