In view of analysts at ANZ, the signing of the deal will bring some near-term stability to China's trade outlook and financial markets.

"The eight-chapter agreement outlines many pragmatic action points in several areas, while others remain vague. At the same time, issues such as 5G technology, cyber security and SOE subsidies have not been included in the current agreement and could be topics for further negotiations, if there are any.

• Although China's official statement describes the agreement as a balanced one between the two countries, it actually has more obligations to fulfil than the US, which could rekindle conflicts in the future."