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"Competing against the world's best automakers outside of China is the best way for GAC or other Chinese automakers to improve the quality and performance of the vehicles they make and gain better access to advanced technology from global suppliers," he said.

"Consumers these days are fastidious and want better quality and stylish products," said Xu Hui, a former clothing merchant from Yantai in eastern China's Shandong province, noting that the tendency appears in other sectors such as food, furniture and electronics.

"Chinese carmakers are going to complete the deployment process of Industry 4.0 in less than two years, while their German counterparts took five years," Hecker said in an interview on Thursday on the sideline of the forum.

"Chinese people are eager to learn more about the countries and regions involved in the Belt and Road Initiative, and a rising number of stories regarding these regions have appeared in local media. We believe the international community is also curious about Shanghai and China," she said.

"China's market for vitamin E is significant. Demand for vitamin E in the feed industry is high, and China is now the second-largest feed producer in the world, producing 150 million metric tons of feed in the first seven months of 2019, up 4.2 percent year-on-year," Bos said.