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Another ban announced on Tuesday is the resale of face masks. According to the country's economy ministry, reselling of face masks for profit will become a crime punishable by a one-year prison sentence or a 1 million yen fine, or both, amid surging demand spurred by the epidemic.

Apart from economic development, what progress in other areas have you witnessed in China in the past 40 years?

Another major trend which has been widely observed among leading sovereign wealth funds is that they are more active in management after investment. They have participated in corporate governance, using their votes on issues like environmental protection and internal management. They have also paid more attention to their obligations to provide more added-value services to the companies they have invested in, said Tu.

Antagonism toward the Chinese started to arise near the end of the Gold Rush in the mid 1850s, when gold became scarcer and competition fiercer. By that time, San Francisco, which grew from a small settlement with a population of just a few hundred in 1846 to a boomtown of about 36,000 by 1852, had witnessed the birth of the first Chinatown in the US.

Another Chinese battery maker, Svolt, said it will spend 2 billion euros on its European base, which is expected to start production in 2022. The battery maker spun off from Chinese carmaker Great Wall Motors in 2018. It will offer batteries for electric MINI-branded vehicles that will be made in China starting from 2023.