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"China safeguards a multilateral trade system. Lowering auto import tariffs is a major step to expanding reform and opening-up," the Ministry of Finance said.

"Companies matter in employment stability," he said. "The job market will be stable if companies are well-operated."

"China's steps of reform and opening-up will never stop," Han said, adding that the country will not resort to a closed economy under the "dual-circulation" development pattern.

"China wants to make a huge step forward from the mass production level to being one of the leading countries in the field of manufacturing. It has a special focus on innovation and quality, which is what Germany can offer," Obenaus said.

"China's growth is very critical for the maintaining (of) commodity prices for many commodity exporters," he said.