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"China is quickly becoming an important development and production base for BMW's new energy vehicles," said Krueger.
"China is no longer betting on exports to drive up the economy, cultivating new growth points in technology upgrades, stimulation to domestic consumption and adequate investments in fast-growing sectors in global investment destinations－they have all become indispensable parts for the country to boost its economy," said Wang Huiyao, president of the Center for China and Globalization.
"By virtue of the Belt and Road Initiative, TCL has accelerated its globalization in European countries through establishing factories and cooperating with local partners to gain more market share in Europe," said Liang Zhenpeng, a consumer electronics analyst.
"China could pursue more market-based economic reforms that would bolster confidence in the renminbi," said the department.
"China is the largest strategic market for AkzoNobel globally. In addition to creating the best value for Chinese customers, we greatly value the realization of sustainable development together with local communities."
