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"China is taking first good steps to open up its auto sector," Fredrik Erixon, director of the Brussels-based think tank European Centre for International Political Economy, told Xinhua.

"By doing such business, more SMEs are setting up their warehouses, customer services and a complete supply chain in foreign markets. Gradually, SMEs are able to serve customers overseas, just like big firms," Lou said.

"China is a key market for the global luxury industry and Kering has been successfully operating in the country for over four decades. Chinese consumers' expectations for luxury industry has been evolving rapidly thanks to the country's ongoing development and economic growth," she said.

"COVID-19 has severely impacted global aviation at a level that virtually resets the sector. In the past few months, we have seen a huge reduction in travel budgets, falling demand for personal travel out of safety and job worries as well as business trips being largely replaced by videoconferencing and other remote methodologies," said Yu Zhanfu, partner and vice-president for China at consultancy Roland Berger.

"China has committed significant reform to its pharmaceutical regulatory review and approval process, protections of intellectual property and timely, predictable and transparent government reimbursement for innovative medicines, and I look forward to discussing ways the global biopharmaceutical industry can work collaboratively to help China realize these historic goals," he said.