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Gast said: "Imperial and Tsinghua have a shared ambition to support groundbreaking research and create successful partnerships. Both universities recognize the importance of bringing people together to exchange ideas and collaborate. This new fund will help our innovative academic staff to pursue ambitious collaborations and explore new areas of research."

Given the joint efforts of China and ASEAN over the past year to expand their consensus and manage differences, Li will feel greater ease at this year's East Asia summits, observers say.

Germany's Audi also said it would lower its prices for the Chinese market in response to the tariff cuts. It would be another round of price cuts following the move at the beginning of May that lowered the official guided prices by 1,300 to 18,200 yuan.

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Ghosn led Nissan for two decades, rescuing it from the brink of bankruptcy. Shareholders voted him off the company's board last week.

Ghosn, 64, has not commented.

German automaker BMW, with an eye to launching more electrified vehicles in China, is optimistic about selling eco-friendly cars in China, BMW Chief Financial Officer Nicolas Peter said.

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Given the frequent flip-flopping of the Donald Trump administration, it is still too early to conclude that a trade war will start. But China's stance has been consistent: It welcomes dialogue and is not afraid of trade war threats.

Giant pandas live mainly in the mountains of Sichuan and neighboring Shaanxi and Gansu provinces. Due to habitat loss and very low birthrates, only about 1,800 still live in the wild, while some 300 live in captivity.

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Gene Farrell. (Smartsheet Photo)

Georgieva, who succeeds Christine Lagarde, is the first person from an emerging market economy to lead the IMF since its inception in 1944.