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As a consequence, Webasto is scheduled to open its 10th Chinese factory in Guangzhou in south China on Wednesday and will begin constructing its 11th one shortly thereafter. Last year, the company produced 6.2 million roofs for German, South Korean, Japanese and American car makers in China.

As a first step in the brand's major China initiative, Volkswagen Move Forward, the All New Touareg SUV will be imported into the world's largest car market. Together with FAW-Volkswagen's new T-Roc and Advanced Mid-size SUV, plus SAIC Volkswagen's Powerful Family SUV, these models constitute a progressive product offensive, according to the company.

As a deputy to the 13th National People's Congress, Wang revealed during the two sessions that all the construction work connecting China with Vietnam, Laos and Myanmar is speeding up and expected to be finished by 2021.

As a result of the stock connect mechanism between Shanghai, Shenzhen and Hong Kong, overseas investors' interest in the A-share market has increased. According to the CSRC, overseas investment in the A-share market reached 161.6 billion yuan (.4 billion) from January to July this year. The figure was 118.9 billion yuan during the same period in 2017, as calculated by GF Securities.

As a result of a significant number of store closures – both own- and partner-operated – and a traffic reduction within the remaining store fleet, revenues in China have been about 80 percent below the prior year's level, between Chinese New Year on Jan 25 and the end of February.