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"China has started relatively late in the development of commercial endowment insurance and thus lacks enough experience. It is important to learn from advanced experience worldwide, continue to open up our insurance sector, and in this process, develop our own commercial endowment insurance to meet the needs of an aging society," Li said.

"Cases are increasing among older adults, particularly those aged 80 years and older who currently have the highest incidence rate, nationally. More and larger outbreaks are occurring in long term care homes, congregate living settings and hospitals, and spreading in indigenous communities and more remote areas of the country," Tam said.

"China continues to be a growth market with attractive prospects for Clariant. This investment will be of great benefit to our company's positioning and customer proximity in the entire region," said Hans Bohnen, COO of Clariant.

"China deeply regrets US withdrawal from the INF Treaty. China firmly opposes US attempts to deploy intermediate-range missiles in the Asia-Pacific region," Fu added.

"But we shouldn't sell our souls before they have any value."