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China, which is its largest market, is now home to three Volvo car plants, one engine factory, one design center and one research and development facility, hiring more than 8,000 employees.

China's share of the global brand value rose to 15 percent this year from 3 percent in 2008, ranking second after the United States, according to the consultancy firm's annual report on the world's most valuable brands.

China's plans to reduce tariffs on imported vehicles could actually benefit Chinese customers and carmakers in the long run, according to industry experts.

Chinese Ambassador to Zimbabwe Huang Ping said he had once asked investors in Zhejiang why they were not investing in Zimbabwe and they had told him that they did not know much about the country.

China's shorter negative list for domestic and global investors will further ensure its status as one of the top global destinations for foreign direct investment and boost business confidence in many partner economies, said officials and business executives.