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"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Woellenstein, referring to China's decision in 2018 to gradually lift the equity cap in the auto industry.

"But, Guangdong should pursue world-class standards of economic governance to avoid missing out on considerable foreign investment in the future," Lau said when the European chamber released its South China Position Paper 2019/2020 in this Guangdong provincial capital on Wednesday.

"China needs a high-quality modern system to follow the new 'dual-circulation' development pattern," Wang said. "More efforts should be made to expand the effective supply in the logistics market and improve the service capabilities of the transportation hubs."

"China has invested billion in Texas since 2000. That's a good and strong indication that if we want to grow and to develop, we need to look to China," the mayor told China Daily at the summit. "I met a lot of people at the summit, including representatives from Suzhou."

"But the government needs to boost the private sector to ensure that the economy grows in a healthy way."