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"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 carmaker's financial statement said.

"California has a responsibility and obligation legally and otherwise to enforce those laws," said Newsom, adding that he may utilize "the power of the purse" to assure public safety. "That will be an exception, and we hope we never have to trigger that," he added.

"China also welcomes the participation of foreign enterprises in the process, if they are interested," he said. "With reforms deepening, the SOEs will take on a new look and make new achievements."

"China is a key focus of Bayer's partnering efforts and we are continuously looking for assets and health technologies to help address the significant unmet medical needs of patients," said Marianne De Backer, PhD, a member of the executive committee and head of Strategy and Business Development & Licensing, Pharmaceuticals Division of Bayer AG.

"China is trying to address the concerns that have been raised since the last Belt and Road Forum two years ago. One of these concerns is the need for infrastructure projects to be more responsive to the local circumstances of BRI member countries."