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"China is not the enemy," Jeffrey Sachs, a professor at Columbia University, wrote in an opinion column published by CNN. "It is a nation trying to raise its living standards through education, international trade, infrastructure investment and improved technologies.

"By 2023, the BMW Group will already have 25 electrified models on the roads, more than half of them all-electric," BMW Chairman Oliver Zipse said at the annual accounts conference.

"But of course, an evaluation of Koo's effort must be put into the bigger context of what was happening in the China theater of the war, where hard-won victories by the Chinese Army against fascist Japan had certainly served to greatly elevate the country's international status," he said.

"China is the No 1 growth market in the world, and they have been clear about their intended leadership in bringing hybrid and electric vehicles to market," said Don Walker, Magna CEO.

"By turning non-negotiable banker's acceptances into active BAs for payment, CZBank minimized our company's needs for private financing, thus reducing our debt ratio and financial leverage," said Cai Xiaofang, finance director of SPC.