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China decided in 2018 to phase out the equity cap in the automotive industry. In the same year, BMW became the first international carmaker to acquire a majority stake in its car-making joint venture.

China considers APEC cooperation to be very important and hopes to work with all related parties to make sure APEC continues its important role in economic cooperation in both the Asia-Pacific region and the world, he added.

China has always seen Pakistan as a priority in its neighborhood diplomacy and will support its efforts to push forward national prosperity and rejuvenation, Li told Khan, who is making his third visit to Beijing within a year.

China expects the meeting between leaders of the Democratic People's Republic of Korea and the United States will continue moving forward in the direction of the "dual-track" approach, Wang said at a press conference after the 16th meeting of the foreign ministers of China, Russia and India in Wuzhen, East China's Zhejiang province.

China has become an integral part of the growth plans of many US businesses, not just because of its sheer size but also due to its strategic importance, according to Stephen Shafer, president of 3M China, the Minnesota-headquartered conglomerate.