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"China is now our largest trading partner, and makes up for 19 percent of our total trade with the world."

"China is already incredibly innovative in so many areas. There are apps and business models that can only be created here," Cook said.

"COVID-19 has been rampaging over the world, which requires the international community to further enhance global health governance," said the report, released by the Institute of World Economics and Politics under the Chinese Academy of Social Sciences. "As a responsible country, China should take the opportunity to further participate in and contribute to global health governance and share its wisdom with the rest of the world."

"China is by far the largest market for mid-sized premium sedans. With Model 3 priced on par with gasoline powered mid-sized sedans, we believe China could become the biggest market for Model 3," the company said in the report.

"China has developed rapidly over the years, but over the next five years, we would expect it to develop even more rapidly on the back of more and more innovation," he said.