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Chinese brands have improved a lot in terms of design as well, and customers are even happier with them than with international brands, according to the survey.

Chinese companies' digitalization expertise and the strong resilience shown by the nation since the COVID-19 epidemic have given multinational companies the confidence to be more deeply rooted in the country, top global executives said during a meeting of the International Business Leaders' Advisory Council in Shanghai.

Chinese officials and experts said that Washington's plan to impose a 10 percent tariff on 0 billion worth of Chinese goods starting Sept 1 is irrational and irresponsible, hurts the interests of China and the world and is not in the long-term interests of the US.

Chinese companies have also expressed their desire to set up partnership ventures with Algerian operators to start manufacturing, given that the Algerian government wants to develop the automobile industry to curb dependence on oil revenues.

Chinese invested companies were featured prominently in Monday's program.