A retail investor checks the information on the screen at a stock exchange center in Beijing's Shijingshan District on May 6, 2019. (Photo:Li Hao/GT)

Chinese stocks closed slightly lower on Friday, with the flagship Shanghai Composite Index shedding 0.08 percent to close at 3,092.29 points. The Shenzhen Component Index dropped 0.17 percent to 10,879.84 points, and the ChiNext posted losses of over 0.47 percent.

Shares in the liquor and retail industries led the gains as China's Spring Festival holiday approaches. Jinhui Liquor Co Ltd shares rose by the daily limit of 10 percent to 19.26 yuan ($2.78), hitting a nearly two-month high. Shanxi Xinghuacun Fen Wine Factory Co Ltd edged up 2.97 percent to 94.2 yuan per share.

Oil and gas services, agriculture and Tesla shares saw the biggest losses on Friday, though China on Thursday announced it will sign the phase one trade agreement with the US next week in Washington.

Han Jun, vice minister of agriculture and rural affairs, said in December that the agreement, once implemented, will increase China's agricultural exports to and imports from the US.

Tesla's stock rally came to a halt, sliding 2.19 percent to close at $481.34 on Thursday, a first for the stock in 2020. This dragged relevant A-share companies down slightly.

A shares are likely to perform well next week, as analysts have predicted China's 2019 GDP growth rate - set to be released on January 17 - is "within expectations," and several economic figures have beaten expectations.

As for US shares, they are expected to continue their bullish trend in the short term, amid a truce in the China-US trade war.