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Anne Fadiman

Another good indicator in that matter is the ever-growing number of locally produced cars: Today, over 70 percent of our cars sold in China are also made here. Driven by the outstanding market demand for our premium cars, our joint venture production hub with BAIC became our largest Mercedes-Benz passenger car plant worldwide in 2017. Looking ahead, we will further deepen our local partnerships. Together with BAIC, we will invest over 11.9 billion yuan (.9 billion) to establish a second production location in Beijing to expand capacities for more "Made in China, for China" products, including battery-electric vehicles. We are fully committed to localize Mercedes-Benz electric vehicles in China, the world's largest NEV market.

Apart from China's improved business environment dominated by the market economy, the nation's comprehensive advantages based on efficiency, labor quality, resources and digital and physical infrastructure will continue to help the nation attract investment from global companies over the long term. Backed by its institutional advantages, impressive mobilization ability and industrial system, the country's epidemic prevention and control work fully demonstrates China's strength in overcoming difficulties. This will play a key role in attracting foreign investment in the future.

Any of these steps would be a major reform. Taken together, they are a big move in the process of using both domestic and foreign competition to push upgrading of the Chinese economy.

Apart from external factors, China's economic restructuring has also had an inevitable effect on the stock market, according to Liu.