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At the centre of this system is the World Trade Organization, which was established in 1995 by the international community in pursuit of open, fair and equitable trade following nine rounds of multilateral trade negotiation to reduce trade barriers. With 164 members that account for over 95 per cent of global trade, the WTO has become a major platform for trade issues. There has been a dramatic reduction in average tariffs applied by WTO members, and global trade in goods has quadrupled over the past 20 years. Trade has become a driving force for global growth and trade liberalisation is now an international consensus. Despite new challenges, this body is capable of reform and overhauling itself in order to cement its position as the centrepiece of the multilateral trading system. This will be key to warding off the potential disaster of trade protectionism.

At the same time, sales of German carmakers in Western Europe fell by four percent and were even down 14 percent in the United States, according to the EY report.

At the 20th anniversary ceremony, he delivered a keynote speech, in which he put forward four points on how to implement "One Country, Two Systems" policy in Hong Kong under the new situation, and raised new expectations for the new government of HKSAR for better governance.

At the end of last year, WeRide launched a trial run of autonomous taxis, named Robotaxi, in a 144-square kilometer area of Guangzhou, capital of South China's Guangdong province. Passengers can order a taxi via its app and experience a driverless journey.

At the same time, regional and State reserves are accelerating the release of frozen pork to shore up supplies in the run-up to the holiday season.