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Art insurance is regarded as the most direct and efficient way to control such risks and help policyholders gain economic compensation afterwards, according to Yang Hongbo, general manager of property insurance business of TK.cn, a subsidiary of Chinese major insurer Taikang Insurance Group.

As China is becoming the economic power of 21st century, Walker said: "China's challenge is not to follow the great powers of previous centuries in using its power to accumulate more power with which to dominate others. Instead, it should share its power through engagement with others for, as President Xi says, the benefit of collective human progress."

Apple's Chief Operating Officer Jeff Williams unveils Apple Watch SE during a special event at the company's headquarters of Apple Park in a still image from video released in Cupertino, California, US on Sept 15, 2020. [Photo/Agencies]

As EV demand grows there is an increasing need for cell manufacturing facilities close to automotive production. This has led to a boom in European cell plants, and the rest of the supply chain is also slowly making its way to Europe.

As China and Russia are both major countries in the world, China is willing to continue joining hands with Russia to make their links closer, deepen cooperation, jointly draw blueprint for the development of bilateral ties in a next stage, and lead China-Russia relations into a new era, Xi said.