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China's decision to remove limits on foreign ownership of automotive ventures is a significant policy shift that could open new opportunities for overseas companies, perhaps including acquisitions in China, according to industry analysts.

China's economy will remain a powerful engine for world economic growth in 2017, as the fundamentals for China's long-term growth have not changed and the economic structure is optimizing by increasing the role of the consumption and service sectors, said Cai Zhizhou, a macroeconomics researcher at Peking University.

China's key role in global supply and industrial chains will not be altered due to the temporary disruptions from the novel coronavirus epidemic, said officials and global business leaders.

China's measures for further opening-up will have ramifications that "are as profound as" the country's opening of its trade policy regime and accession to the WTO two decades ago, Sourabh Gupta, a senior fellow at the Washington-based Institute for China-America Studies, said in a recent interview.

China's economic transformation will continue to drive domestic demand and market expansion. For the United States, China is a great investment market which is still expanding, Wang said.