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"By virtue of the Belt and Road Initiative, TCL has accelerated its globalization in European countries through establishing factories and cooperating with local partners to gain more market share in Europe," said Liang Zhenpeng, a consumer electronics analyst.

"China has made significant progress in financial market opening-up and participated in an expanding scale of trade, cross-border investment and human resource movement, naturally strengthening the yuan's international role," Zhang said, adding that the growth of the yuan's share in global reserves could help stabilize global financial markets with currency diversification.

"China is determined to make NEVs a success and Volkswagen is determined to make it a success, and I am confident it will happen," said Woellenstein.

"China is really becoming a dynamic market and both local players and international brands are now beginning to define a unique Chinese fragrance landscape," Luc Berriet, the fragrance development director with Firmenich China, explained.

"But, over the next decade, the Chinese stock market will offer more investment opportunities than the housing market", as excessive money supply－the major driver of property prices in the past decade－will not continue.