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The transaction, which is expected to be completed in the first half of 2019, is subject to certain conditions, including merger approval from the Namibian Competition Commission, it said.

The two nations are all-weather strategic cooperative partners and their bilateral friendship is built on strong foundations, he said.

The uncertainties resulting from China-US disputes in trade and the technology sector and the decline of the global economy may also pose risks for China as these factors could hit the country's exports. In addition, the possibility of a re-escalation of the COVID-19 pandemic as the weather cools down in the third and fourth quarters also means that policy easing may step up again, economists said.

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The two, which have been working on chassis, driving systems and new energy products, are now building a new partnership to produce electric powertrain systems.

The two countries should also properly resolve their differences, steadily move forward maritime cooperation from a long-term perspective, and translate the shared strategic interests of the two countries into a driving force to move forward practical cooperation, Wang added.

The two sides also need to create a successful model for locating, capturing and repatriating fugitives to China, and set an example for future cases, he said.

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The transactions could be completed without the need to leave the app for visiting sellers' online platform. By giving users a more direct way to search for and buy products, Douyin has put itself in closer competition with social e-commerce apps like Pinduoduo.

The two multinational oil giants are set to reserve enough space for charging equipment at their following new gas stations in China, which will also be equipped with sufficient electric capacity and distribution facilities.

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The two airports in Shanghai reported cargo and mail throughput of 4.24 million tons in 2017. The city is the third aviation hub in the world after Hong Kong and Memphis, boasting a cargo and mail throughput above 4 million tons, according to the Shanghai Airport Authority.

The two parties believe the extension will facilitate bilateral trade and investment to help economic development in the two countries.