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"Customers will be able to choose from battery electric, plug-in hybrid and mild hybrid power, as well as ultra-clean petrol and diesel engines."

"Competition will also lead to cheaper battery prices and more industry consolidation, and the rest of the domestic battery manufacturers will have to fight more fiercely for market share."

"China, more than other emerging markets, has the ability to manage its own future, at least within the confines of its domestic financial system and the domestic economy," said Alastair Wilson, Moody's head of global sovereign rating.

"China's robotics industry has been moving forward at high speed in recent years. It is driven by long-term vision, by the understanding that innovation is essential, and by the government's commitment to provide the necessary resources," he said. "Robotics is all about integration, and cooperation is needed to take a leading position in developing smart robots."

"Chip technology is the crown in the smartphone sector, but it is highly cash intensive," said Lei Jun, founder and CEO of Xiaomi.