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"Thanks to mobile internet technologies, assimilating Chinese classics is more interactive. We hope this can help promote our culture around the world," Hu added.

Alo Ivask, Chairman of the Board of Enterprise Estonia, welcomed the investment deal and hailed the fast growth and high-level quality of Magnetic MRO in the past years, expecting a bright future for the company after Hangxin's acquisition.

"I think there is a lot of experience and knowledge in China, which is very useful to other countries," he said, adding that he has often been asked by visitors to China about what they can learn from China's poverty reduction experience, or its industrialization experience.

With lower tariffs, the value-added taxes and consumption taxes on auto imports will decrease accordingly.

He believed the new center, in line with the general trend of increasingly close personnel exchanges between the two countries, will vigorously promote the further development of bilateral relations.