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"China's vehicle market has entered a new era of high-quality development, in which product and service excellence will be the key to sustained growth," said Matt Tsien, GM executive vice-president and president of GM China.

"Chinese companies need to tell their story in a way that is suitable for the local culture and the understanding that local people in that market have of Chinese companies."

"Chinese companies invest in Israel, funding Israeli technology, and find ways to make it global. I think the opportunities are endless," Uri Levin, CEO of Israel Discount Bank of New York, told Xinhua on the sidelines of the event.

"China's economy is also at a crossroads. We could get either sustained growth or massive risks breaking out," Chen said.

"China urges the US to earnestly fulfill its bilateral commitments, respect the facts, and objectively and impartially evaluate the efforts made by foreign governments including China in terms of intellectual property rights and the results achieved," the ministry said in a statement.