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As the highly anticipated phase one trade deal between the world's two largest economies was signed in Washington on Wednesday (US time), China, the US and the world will benefit from its long-awaited outcome, Chinese analysts said.

But cool minds and full preparations are still needed during the implementation phase of the deal as fluctuations may arise at any point, they warned.

China will purchase US manufactured goods, agricultural goods, energy products and services to the amount of no less than $200 billion from January 1, 2020, through to the end of 2021, according to the phase one trade agreement.

China will expand imports from the US in line with WTO rules with the prerequisite that the US produces and can supply high-quality and competitively priced goods and services, according to the agreement. 

The US has called off new tariffs on $156 billion worth in Chinese goods in December and slashed by half a 15 percent tariff on $120 billion worth of Chinese products.

The phase one trade deal with the US has not resulted in a "losing" narrative for China. What China has pledged in the deal is beneficial for the country and will further promote its economic development, said Dong Shaopeng, an adviser to the China Securities Regulatory Commission. He referred to the phase one deal as a "transit point."

"Business concessions are normal between countries under the principle of mutual benefit, which does not mean any one party has won or lost the trade war," Dong told the Global Times on Thursday.

China and the US are complementary in the agricultural sector, and China's market demand is great enough to consume the increased US imports. The purchase is based on demand rather than compulsion, Dong noted.

"It is expected that the phase one deal will help recover bilateral economic relations during its future implementation, but one prerequisite is that the two countries continue to make efforts to create a positive trend and atmosphere for this," he said.  

Mei Xinyu, an expert close to the Ministry of Commerce, told the Global Times on Thursday that the US did not gain more through the trade war than it could have without it; it was a futile war.

"China was originally widening its market access at its own pace," said Mei.

Cool minds and full preparations are still needed during the implementation phase of the deal to make provisions for any potential changes, Mei noted, adding that it is highly likely that bilateral relations between China and the US will encounter fluctuations in the future.