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"China will play a very important role in filling that shortage," he said, adding that connecting financial sectors and improving global commerce "will depend on China's participation in the global economy".

"Customers' demands for vehicles have changed dramatically over the years and Chinese customers are younger and more avant-garde than customers from the European and US markets," said Jochen Goller, president and CEO of BMW Group Region China at the launch event.

"Continental is a technological leader in the field of electric mobility", said Rudolf Stark, a senior executive at the company's powertrain division.

"Coming on the heels of the central banks, there is increasing optimism that politicians are starting to understand the scale of the economic stop coming our way as the death toll across Europe and the US continues to rise," Michael Hewson, chief market analyst at CMC Markets UK, said in a research note.

"China's 40 years of reform and opening up have brought unprecedented historical opportunities for enterprises to achieve innovation and development. Xylem, on the basis of China's national conditions, has seized the opportunity to expand business and achieve win-win progress with Chinese partners through cooperation," said Lv.