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China is known for its craving for SUVs, which has been the fastest-growing segment in its automobile industry. Porsche is selling more SUVs than sedans in the country and Bentley's SUV Bentayga is well received too.

China is speeding up the formation of a new development pattern dominated by domestic cycles and it will be more closely connected with the global economy, offering more extensive market opportunities to other countries, Zhang said.

China has pledged to step up reform of State-owned enterprises in the second half of this year, as the SOE regulator plans to carry out the diversification of equity at headquarters or group level, at two to three central SOEs within the year and push forward the strategic restructuring of central SOEs in key industries including further stepping up mixed-ownership reforms, according to the State-owned Assets Supervision and Administration Commission.

China is one of the world's most important markets for large gas turbines and is expected to intensify its investment in large gas turbine technology.

China is several months ahead of other countries in dealing with the virus, so its model of economic resuscitation after the peak of the virus will also serve as a model as other countries come out of their quarantines.