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Changan Automobile signed a deal to establish a joint venture with NextEV, not only in manufacturing, but also covering intelligent and new energy vehicle R&D, the supply chain and sales channels. The agreement followed JAC's 2016 deal to produce 50,000 of NextEV's upcoming volume models.

Carving is an intricate process consisting of a dozen steps, including carding, grinding, patterning, waxing, contouring, engraving and polishing.

Car sales in China in 2018 saw negative growth for the first time in 28 years, with annual production and sales of automobiles reaching 27.8 million units and 28.1 million units, respectively, down 4.16 percent and 2.76 percent year-on-year, according to data from the China Passenger Car Association.

Cars bearing Chinese marques accounted for 44.5 percent of total passenger car sales, half a percentage point lower than the same period last year.

Central bank officials also mentioned on Thursday that as an international financial hub, Shanghai can take a step further to free the usage of the renminbi and achieve convertibility of the capital account."As long as it meets the regulatory requirements of anti-money laundering, anti-terrorist financing and anti-tax evasion, capital for normal trade and investment can freely float both in and out (of Shanghai)," Yi said.