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An Jin, JAC chairman, said the MOU signals deepened cooperation between JAC and Volkswagen and is another milestone in their cooperation in new energy vehicles (NEVs).

An employee secures a wheel onto the rear of a cab unit for a Volvo FH truck series, produced by Volvo AB at its plant in Gothenburg, Sweden. [Photo/Agencies]

An executive meeting of the State Council on March 31 called for the extension of subsidies and auto purchase tax exemptions for new energy vehicle purchases. Other measures included speeding up approval and issuance of local government special bonds and more facilities for financial and corporate bond issuance to ease the pandemic's impact and offset its economic fallout.

An expert close to the Ministry of Finance told China Daily that the 2020 quota of new special bonds may be increased to 3 trillion yuan (6 billion), up by about 40 percent from 2019. "The 2020 debt ceiling is still under discussion," he said.

An increasing number of Chinese companies are paying closer attention to post-M&A operational risks, to mitigate legal risks and to protect their investments, Jia said.