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As local companies consider shifting to cloud services to accelerate digitalization and achieve industrial upgrades, they also increasingly embrace domestic platforms over foreign ones amid concerns over information security, Wang said.

As part of the country's broader opening-up push, China will phase out the 50 percent equity cap for foreign aircraft and car manufacturers in joint ventures in China, effective on July 28, according to a statement jointly released by the National Development and Reform Commission and the Ministry of Commerce on Thursday.

As of Monday, daily production of masks exceeded 14.8 million from factories in 22 provincial-level regions, up 3.1 percent from the previous day, official data showed.

As part of his push to rebalance global trade in America's favor, the president is also negotiating changes to the North American Free Trade Agreement and is pressuring China to lower its barriers to American products. NAFTA negotiations are ongoing, while there are few signs of progress with Beijing.

As part of the deal, Nio will establish in Hefei a company in charge of its China operations, including production, research and development and sales. Nio will remain headquartered in Shanghai.