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"Chinese consumers have become more aware of quality," said Joost Vlaanderen, president of Mondelez International China, the company behind Oreo cookies. "They like products that are designed for them, and they are willing to pay a premium."

"Currently, the majority of cars sold in China were built in China, it's a very good degree of localization," Samuelsson told Xinhua on Thursday. "But China is also used as Volvo Cars' export hub. Due to US imposed tariffs, we had to redistribute."

"Continental develops and provides pioneering technologies and services for the mobility of tomorrow. Baidu is one of the most important internet companies in China. With our strategic collaboration, we will take intelligent mobility an important step further," said Continental Chairman of the Executive Board Elmar Degenhart.

"Consistent with these plans, the country's ongoing and necessary rebalancing process implies lower future growth," he said.

"China's financial system maintained its resilience during the global market fluctuations, which was also a contribution to international financial stability."