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"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Wollenstein in a statement.

"China must also adjust the previous five-category system to adapt to changes in international financial regulations and accounting standards, as well as to enhance the accuracy of asset quality classification."

"China is important to us because it represents the biggest market in the world for electric cars, buses, trucks and other methods of transport which are recording the biggest growth," said Mate Rimac, the founder and CEO of Rimac Automobili.

"China has a significant market growth potential of its 5G network and it has been leading the development of 5G. This year, 5G will cover 50 cities, and about 300 cities will get 5G connections next year. In the year after that, the connection is likely to be available nationwide," said Xiang Ligang, a telecom expert and chief executive of industry website Cctime.

"Canada and China enjoy a close and longstanding relationship that will only grow stronger as we work to increase the two-way flow of visitors between our nations," said Ahmed Hussen, Canada's minister of immigration, refugees and citizenship Canada (IRCC), announced last weekend in Toronto.