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China is currently in the midst of a long-term transformation of its national business model. Earlier growth was based on the nation's comparative advantage at the time－low-cost labor combined with good infrastructure and a business environment that was acceptable for low-wage manufacturing. This business model enabled China's growth for more than 30 years and allowed it to raise almost all of its people out of extreme poverty.

China has taken a series of steps to combat pollution from motor vehicles.

China is expected to fill the large talent shortage in its domestic computer chip industry, as the US ban on sales of electronic products to smartphone maker ZTE underscores China's overreliance on imported chips, experts say.

China has set a goal of selling 2 million new-energy cars a year by 2020. The country has the world's largest number of electric vehicle (EV) manufacturers and the largest network of charging points.

China is offering a ray of hope for BMW as auto markets in Europe and the US are still reeling from the coronavirus pandemic, said the carmaker's Chairman Oliver Zipse on Thursday.