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"China is a big and responsible country. It's developing fast and influencing the world economy, especially that along the Belt and Road Initiative," he said. "Many countries will benefit from it."

"By adhering to high international standards in product quality and establishing world-class car manufacturing systems, we will continue to bring our brand to more consumers globally with new products and services," Yu said.

"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Woellenstein, referring to China's decision in 2018 to gradually lift the equity cap in the auto industry.

"China is firmly confident that its economic fundamentals will remain sound in the long term and the Chinese economy will keep growing at mid and high speed toward becoming a medium and high-end economy," Lu said at a regular news conference in Beijing.

"By 2035, the country's per capita GDP will reach the level of moderately developed countries, which means that China will successfully cross the middle-income stage," said Vice-Premier Han Zheng in a bylined article commenting on the proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.