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And non-governmental companies have played bigger part in Guangdong's foreign trade with Greece. Private-run companies represented more than 70 percent of the province's total import and export volume with Greece, the statement added.

Andrew Smith, a professor of political science at the University of New Hampshire and director of the school's survey center, said Harris's attack on Biden wasn't a surprise.

Angel Saz-Carranza, director of the ESADE Center for Global Economy and Geopolitics, said the growing threat of protectionism in recent times has made open and collaborative China-EU relations more important. He urged the two governments to work on establishing further clarity in investment rules.

Analysts said a sound battery recycling system is essential to the rapid growth of China's new energy car market, as more and more carmakers, both local and overseas, are shifting their focus to electrification.

Analysts deemed Jia's resignation as CEO was clearly a critical move in the reform which appears to have already begun implementation.