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"COVID-19 is the single greatest catalyst for change in the industry in a generation, forcing our customers to reassess their priorities, but the global lockdown itself has not started any new trends on its own," said Sami Atiya, president of ABB's robotics and discrete automation business.

"But the space on the monetary side is limited as we need to stick to efforts to promote deleveraging moves, while room for fiscal expansion remains ample - more tax cut policies can help to soothe economic concerns, in particular value-added tax," he said.

"China is our second largest market worldwide," said Gilbert Ghostine, Firmenich CEO, adding that he expects the factory in Zhangjiagang to play a central role in the company's growth.

"China is on a transition from a high speed in the past more than three decades to a medium ... growth rate in the future," said Liu, who was a member of the 13th National Committee of the Chinese People's Political Consultative Conference that drew to a close on Thursday. He has also helped draft the report Xi delivered at the 19th National Congress of the CPC.

"China is following the European countries' technological road map to develop new energy vehicles. The government's willingness to work out a timetable is further evidence of the move toward new energy vehicles," Sun said.