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Analysts said Chinese carmakers are likely to continue the generally positive trend seen in recent years as they begin to roll out models designed specifically to compete against international brands in the domestic market.

Andrew Leung Kwan-yuen, president of the Legislative Council, said he understood and respected the decision made by the Standing Committee of the NPC, and he urged people from across the political spectrum in Hong Kong to take a pragmatic approach and work for the best interests of the community.

An uncompleted affordable housing project in Qingdao, Shandong province. [Photo/qingdaonews.com]

Andrew Norton, a professor of higher education policy at Australian National University in Canberra, said international collaboration was vital for Australia, since it could never compete with the vast research resources of countries such as China and the US. He said Australia relies on international research.

An opinion piece in People's Daily urged investors to remain rational.