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"Chinese customers may know the two joint ventures, but have little knowledge of Hyundai as a group," Ryu said. "We have thought over the problem and made the decision to change."

"Chinese consumers have been really receptive to the product and its proposition. The reuse rate is extremely high. We see a robust market there owing to Chinese mothers' preference for safer and more premium baby formulas, the consumption upgrade and the universal second-child policy, that have helped to adopt and grow this new category and lead a new trend," he said.

"Consumption rapidly recovered on demand for consumer staples such as food and beverage and daily necessities. Among durable goods, car demand recovered remarkably," said Piao.

"China, as the first country to sign the UN Charter, has consistently and scrupulously adhered to the purposes and principles of the Charter and has unfailingly supported efforts to defend the authority and functions of the United Nations," Zhang Jun, China's permanent representative to the UN, said in remarks to the Security Council, which held a debate on upholding the founding treaty of the UN nearly 75 years after its adoption.

"China's quick victory" over the COVID-19 pandemic "put the Chinese economy in a better situation than the rest of the world," said William Jones, Washington bureau chief of the US publication Executive Intelligence Review, adding that by maintaining its productive capability, China will not only benefit its own economy once the pent-up demand is released post-pandemic, but also provide "a lifeline" for countries that have "maintained the production lines in China."