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As executive chairman, Schultz oversaw the opening of upscale Reserve stores and massive Roastery showrooms as part of its new Siren Retail initiative.

As UBS calculated, overseas institutions' investment in the A-share market has surged from 555.5 billion yuan (.1 billion) in 2014 to 1.6 trillion yuan by the end of June this year, among which 60 percent came from the stock connect program between the trading houses in Shanghai, Shenzhen and Hong Kong. Although the Chinese forex regulator doubled the total QFII quota to 0 billion earlier this year, only 1.4 billion of that quota has been used so far.

As Xi said in his speech at the recent trade fair in Beijing, the opening-up and international cooperation in the services sector is becoming an important engine to push global development. The further opening of the Chinese market and a stable growth of the Chinese economy will undoubtedly be a positive force to revitalize global trade in the current challenging times and will inject fresh energy into the global economy to overcome the devastating impact of the COVID-19 pandemic.

As central authorities have prioritized curbing financial risks, SASAC has put the capital structure, financing leverage, investment and risk of central SOEs under greater scrutiny in recent years.

As a result, companies such as Tesla and BMW actually lose money on certain models sold in China.