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"China has already taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture and medical treatment sectors, as well as introducing the first new negative list for cross-border service trade in the China (Shanghai) Pilot Free Trade Zone last year to offer global companies more access," said Bai Ming, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.

"By integrating online and offline and combining teachers from both China and abroad, we endeavor to help kids be immersed into a pure English-learning environment," he added.

"But now the situation has changed, with the US hoping China does not allow the yuan to depreciate," said Yu. "A weaker yuan would help boost China's export and reduce US exports to China."

"China is the world's largest smartphone market. Samsung's limited presence in China has considerably harmed its business," Xiang said, adding that Samsung's business in India is also heavily affected due to city lockdowns.

"China offers tremendous opportunities in many sectors for Canadian businesses of all sizes to diversify their trade and investment, creating good middle-class jobs for Canadians in the process," he said.