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"China has been the largest automotive production and trade market for 10 consecutive years. That success couldn't be possible without breakthroughs from domestic auto component makers, among which Shengrui is one," Xin Ning, deputy head of China Automotive News said at a summit organized by Shengrui in January to discuss the latest industry trends.

"China is now the strongest in the internet ecosystem, visible almost in every vertical, including hardware manufacturing, technology advancement, user numbers and business environment. And that gives Chinese startups a natural advantage as they go global.

"By putting together well-talented and open-minded people we are convinced we can eliminate misunderstandings, promote positive ideas and bring about new projects. This is all the more important as our world is confronted with bursts of populism and protectionism."

"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.

"But we believe the Chinese government still has room for policy adjustments to mitigate risks, and we expect more reform efforts to transition the economy toward a more sustainable growth path."