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"China has already risen as a major car manufacturing power and the largest automotive market in the world," Chen said. "But in terms of car exports, we have yet to achieve a global market share that matches these titles."

"But take a look at the world's leading film studios. Sales of film-related derivatives can contribute up to 70 percent of their annual revenue."

"By the end of the year, we are likely to open tenders for the aero engine, and Rolls-Royce and General Electric are expected to join the bid. We are also trying to develop engines ourselves together with Russia."

"But there are some issues that divide us," including the set of tariffs China imposes on US exports, some standards China imposes particularly on food items, and intellectual property rights, the technology transfers and cyber security, which Ross said are "essentially the basis" for the US' planned hefty tariffs on billion worth of Chinese goods.

"China is still the research and development, and manufacturing center for high-end electronic devices, such as mobile phones, and has obvious advantages in premium raw material production segment. As a result, Samsung will continue to pour more money into the high-end manufacturing segment in China," said Jia.