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"Despite all their efforts to date, they have failed to find the convergence of their interests or common ground", Wang said, adding that each side has underplayed the other's desire for a deal. Both sides have latched onto their own demands and principles, which has blurred the prospects of the dialogue process and exacerbated their mistrust.

"Driven by the planned 70 billion yuan investment and the evolution of the industrial cluster, the figures are poised to top 300 billion yuan and 200 billion yuan, respectively, within five years," he said.

"Dumping US treasury holdings is not China's strategy to win," said Guan Tao, member of the China Finance 40 Forum.

"Even for a stable coin, no matter whether it is pegged to one currency or a basket of currencies, when used in cross-border payments the process is complicated since the account holders need to convert their currency to the pegged currency basket and vice versa," Moon said.

"Delta has been engaged in the electric vehicle market in the Chinese mainland for more than five years. In addition to cooperating with global auto manufacturers' joint ventures here, we have also cooperated with domestic brands in manufacturing batteries, electric machinery, car charging equipment, converters and power distribution systems," Cheng noted.