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German auto parts maker ZF Friedrichshafen is promoting its "in China, for China" strategy to foster better growth in the country, already one of its largest markets worldwide.

Gerald Keefe, head of Asia-Pacific corporate banking at Citigroup, said risk management in context of the Belt and Road Initiative, which aims to promote the connectivity of Asian, European and African continents and their adjacent seas, can be broken down in a couple of different components. The critical ones that banks help manage are currency, liquidity, capital and funding risks. In some cases, risks that exist across business enterprises can be particularly acute in emerging countries.

Gary Hufbauer, a nonresident senior fellow of the PIIE, said the USTR simply doesn't mind hurting major US firms that rely on Chinese semiconductors.

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Germany is a leading country in basic research, innovation and high-end research and development, and China has special advantages in its huge market size, vast human resources, fast-growing digital economy and innovation applications, Li said. Therefore, he said, both countries can work together more closely in innovation-driven development, particularly in electric vehicles and smart manufacturing.

Given this, it is not surprising that Bannon is now crawling out of the woodwork to support Trump's 2020 campaign either directly, or indirectly by weaponizing the Wuhan lab conspiracy theory, as are many others on the right.

Geng noted that the Sikkim section has been defined by a treaty and the Indian government has repeatedly honored the treaty in writing as it does not contest the section of the border.

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Geek on the Street: Why are you in line for an iPhone 4S?

Geng reaffirmed that the Chinese government is determined to safeguard national sovereignty, security and development interests, implement the "one country, two systems" policy, and oppose any foreign interference in Hong Kong affairs.

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George H.W. Bush, born on June 12, 1924 in US state of Massachusetts, was elected US president in 1988 as the successor to Ronald Reagan. He served as head of the US Liaison Office in China between 1974 and 1975.

Gary Hufbauer, an analyst at Peterson Institute in Washington, said in an email to China Daily that while manufacturing accounts for only a tenth of employment "it accounts for about a fifth of value added''.