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"By 2020, the market scale of the country's intelligent connected vehicles sector is expected to exceed 100 billion yuan (.5 billion)," said Minister of Industry and Information Technology Miao Wei at the World Intelligent Connected Vehicles Conference held in Beijing from Oct 18 to 21.

"But we are in the middle of the pandemic. So, for the United States to leave and take its money with it is extraordinarily shortsighted and unwise, a major mistake by our country in my judgment," he said.

"China has been an important engine for global growth in recent years," said Liang Haiming, dean of the Hainan University Belt and Road Research Institute.

"China has embraced mobile payments faster than any other country, and will continue to lead the global charge in this regard," said Vishal Bali, managing director of Nielsen China.

"But there is no need to be overanxious about the risks as China has a deposit insurance scheme. By taking measures, such as appointing another bank to temporarily manage the bank which undergoes the mergers and acquisitions process, regulatory authorities will help small and medium-sized banks make a smooth transition of liquidity," he said.