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"Chinese investors' footprint is spreading across five continents, focusing on not only 'going out' but also upgrading businesses to higher end of the value chain," said Loletta Chow, global leader of EY's China Overseas Investment Network, at a news conference on Thursday.
"Companies solely trading imported cars that have a small market share will have the impulse to lower the price first, in an aim for a bigger volume," said the expert.
"China still has the potential to mobilize resources to support the economy. For example, we could continue to lower the RRR, lower interest rates and inject more liquidity into the economy," he said.
"Currently, China is shifting its focus of opening-up from trade in goods to trade in services. During the first seven months of this year, China's trade in services stabilized, trade deficit decreased and knowledge-intensive industries grew despite the challenges brought by COVID-19.Services trade has become a new bright spot in the development of international trade," he said.
"China will as always play a positive role to this end," Lu added.
