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"Customers want smart cars for a smart world, and Chinese customers are quick to embrace new technologies and electric cars are going to be a preferred choice," the executive chairman said.

"Compared to existing test areas across the nation, the test and demonstration area in Lingang is fully covered with 4G and 5G networks, and it offers a larger area for testing and well-designed test scenarios," said Gu Changshi, chief planner for industrial development with the Shanghai New Lingang Area Development Administration.

"China, like a lot of Asian countries, has a culture where parents want their kids to go to university. What we have to do is create a narrative depicting how skilled jobs are a good and better career option, and how it contributes to the community," he said.

"Chinese banks should ensure that foreign investors can freely remit yuan-denominated returns from profits and stock dividends," it said. The move will encourage foreigners to use the Chinese currency for direct investments into the country, it said.

"Currently, China is shifting its focus of opening-up from trade in goods to trade in services. During the first seven months of this year, China's trade in services stabilized, trade deficit decreased and knowledge-intensive industries grew despite the challenges brought by COVID-19.Services trade has become a new bright spot in the development of international trade," he said.