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"China's contribution is significant because they have developed models and vehicles with good features and of good quality, and they are also lowering the prices," Chile's Minister of Transportation and Communications Gloria Hutt told Xinhua News Agency.

"Chinese automakers have the capacity to challenge the dominance of market leaders on the back of economies of scale and they already have an edge with the electric vehicle technology that fits well into the Indian government's vision to become a key global base for electrification," said the report quoting Amit Kaushik, managing director at the consultancy firm Urban Science.

"Chinese automakers need to conduct thorough research into the legal framework of the target markets to secure legitimacy while lowering legal risks," said Qiu Yiqing, deputy general manager of Geely.

"China will also be added to our watch list for possible inclusion in the FTSE's global bond indexes. The Chinese authorities have continued to introduce reforms designed to open their market to international investors and have transformed their economy into the second largest in the world," Mark Makepeace, CEO of FTSE Russell, said in the statement.

"China will work to optimize the mechanism to attract investment in the services sector and promote the creation of a global alliance for trade in services … the Ministry of Commerce will release the negative list for cross-border trade in services by the end of this year to support further opening-up in the sector," said Xian Guoyi, head of the department of trade in services and commercial services under the Ministry of Commerce.