Peter Merker, director of the German Chamber of Commerce in China for Tianjin and CEO of Schlote Tianjin, firmly opposes sanctions on new technologies, and advocated enhanced international cooperation for mutual benefit.

Commenting on certain suppressive measures of some countries against the development of new technologies by other countries, he said: "If we look at history, these sanctions, do you know any that have succeeded? I haven't seen any.

"Sanctions are a tool that has significant side effects. For every 1,000 enemies killed, it also harms 800 of its own at the very least. It is lose-lose, not win-win."

The automotive industry strongly opposes tariff increases and sanctions, and most ordinary people share that view, he said.

Now, many Western governments are facing difficulties, so they use tariff increases and sanctions as leverage, but such a path is not good, he said. "We should extend a hand and say, 'cooperation would be better'."

Citing certain benefits brought about by AI and fintech applications like speedier banking services, Peter Jeng, vice-president of the UK Chinese Business Association, said applications of new technologies can reduce risk in overseas businesses for enterprises, and there is huge cooperation potential between Chinese and foreign companies in this regard.