Bi Jiyao, deputy director of the Academy of Macroeconomic Research of the National Development and Reform Commission, said potential challenges persist this year, and coping with them will require more effort.

Also, protectionism may reignite, which, together with pending reforms of the World Trade Organization, will make it difficult for companies worldwide to make long-term investments, Bi said.

On Tuesday, before the signing of the deal, Vice-Premier Liu He said that Beijing and Washington will work together to obtain tangible results going forward, according to Xinhua.

Liu told International Monetary Fund President Kristalina Georgieva and some US representatives during a meeting in Washington that the deal would benefit both countries and the world.

Liu also said China and the US can work together in a win-win relationship despite differences in their political and economic models.