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"China's current account is now broadly in line with fundamentals," said Gita Gopinath, an economist at the IMF. "The (current account surplus) decline reflected a combination of structural factors and expansionary credit and fiscal policies, but also greater exchange rate flexibility and the associated real appreciation over the last decade."

"Constraints over local governments' budgets will be made more binding," it said, noting that "disorderly use of debt financing for construction will be resolutely stopped and the governments' bond issuance practices will be standardized."

"Currently, the Chinese bus models are the state-of-the-art concepts for e-mobility," FlixBus told Xinhua.

"China's automotive industry has basically returned to normal," said Chen Shihua, a deputy secretary-general of the organization.

"Cooperation between China and the US not only leads to a win-win situation for the two countries but also benefits the world economy, while confrontation only causes damage to both sides," he said.