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During President Sisi's second state visit to China in September 2018, he and President Xi reached a consensus on enhancing the two countries' pragmatic cooperation in various fields under the framework of the Belt and Road. [Photo/China Daily]

Driven by the Belt and Road Initiative, Asia became the most popular overseas M&A destination for Chinese enterprises, recording growth despite the overall downward trend, the EY report said.

Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowment for International Peace, said the impact of jacking up the tariffs will raise costs in every direction and possibly leading to a "wrenching and costly" delinking of the US and Chinese economies.

Due to the coronavirus outbreak keeping people away from showrooms, carmakers have launched online marketing using virtual-reality and online purchases, allowing customers to browse digital showrooms and check vehicle information.

Dubai has been selected as the Middle East headquarters for most Chinese-funded enterprises due to the rapid development of China's trade in the Middle East, as well as the boom in investment and project contracting of Chinese energy and construction companies, according to Bank of China Dubai Branch.