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"Financial institutions should have a countercyclical mindset. When times get tough, they should not simply reduce lending, collect debt in advance or stop lending, for their asset quality will worsen if their clients' risks increase rapidly," he added.
"Furthermore, the escalating trade dispute between Japan and South Korea will cause a domino effect on the global supply chains in computer and smartphone industries, affecting the economic stability of Northeast Asia region and even the whole of Asia, since both countries are important contributors to the Asian economy," he said.
"From the risk management perspective, deleveraging and strengthening financial regulation to contain systemic risks remain key focus of the government," Wang added.
"GM's unit in Turin, Italy, which has been specializing in diesel power, has shown great interest in our engine, and it wants to obtain our license to produce the engines in the United States," said Jin Pu, chief technology officer of Techrules, in a recent interview with China Daily.
"From 2012 to 2016, China's contracted engineering projects overseas achieved a total turnover of 0 billion, marking an annual average growth of 9 percent. China has become a major engineering contractor in the world."
