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Analysts said the move marks the strong confidence the new energy vehicle maker has in the China market as well as China's commitment to further opening-up.

Andrew McAfee, best-selling author and co-founder of the Massachusetts Institute of Technology's Initiative on the Digital Economy, said developments in data, algorithms, networks, cloud, and digital hardware have unleashed a wave of innovation that is "rewriting the business playbook" at the Intel Shift 2017 event in New York on Tuesday. Paul Welitzkin/China Daily

An revealed, "At present, Lynk & Co’s goal is to go all out to improve its operations in China, laying a good foundation for its entry into the European market."

Andres Abadia of Buenos Aires consultancy Pantheon said Argentina's austerity measures "should be seen as a positive, but market confidence in Argentina remains fragile".

Analysis from International Data Corporation indicates that Transsion's market share in Africa reached 52.5 percent in 2019 while its smartphone market share in the continent has exceeded 40 percent and ranked No 1 by the end of second quarter this year, in spite of the global economic impact of COVID-19, according to Transsion.