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"China is working with African countries … in terms of foreign direct investment, in terms of trade, in terms of government assistance. China is also working with European countries as well as the Latin American countries," said Ethiopia-based Jalata, who is also a former consultant to the UN Economic Commission for Africa.

"China is very important to the BMW Group," a BMW spokesperson told Xinhua on Wednesday. "Not only is it our largest single sales market, it is also an extremely important strategic market for us, as it's home to our most extensive R&D and production facilities outside Germany."

"China is creating mega unicorns at a fast pace, and some of the leading companies are now as big as comparable US firms. For example, Tencent is as big as Facebook," said Harry Man, a partner and founding member of Matrix Partners China, a venture capital company founded in 2008.

"But the US dollar remains the wildcard. If and when the greenback strengthens again, the renminbi will come under renewed pressure, reigniting capital outflows. Then we cannot rule out a further clampdown on outflows, in order to safeguard foreign exchange reserves," he said.

"China and all of us are confronted with the peril of the spreading of the coronavirus infection," he said.