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Cao will lead one of the teams in investigations of villages in Zhejiang province's Lishui city.

Chairman of Nio, William Li, said the domestic market and supply chain are the key foundations for the Chinese brands to turn their dreams into reality.

Chang Jun in San Francisco, Chen Weihua in Brussels and Tang Ying in Nairobi contributed to this story.

Capital-intensive electric vehicle startups based in China are getting ready for overseas initial public offerings, expanding their teams with top investment banking executives who are deeply experienced in the global markets.

Cao cited UC Browser, a web browser owned by tech giant Alibaba, as an example, and said that because of its smaller app download size, it is more suitable for lower-end smartphones.