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"But these are not normal times," he said.

"China is perhaps better positioned now than ever before to become a globally competitive player in both semiconductors and AI ... because leading digital businesses (in China) have signaled that greater domestic self-supply of semiconductors is a vital component of their future," he said.

"But we need to pay attention to the side effects of financial policies and prevent any effect from the COVID-19 pandemic," he said. "The total financial support measures should be appropriate, but it is also necessary to consider in advance a good timing for an exit of the policy tools."

"China is the world's largest consumer market. It is also the world's most diversified and inclusive market which gives platforms and opportunities to potential new brands like us. Chinese consumers chose products by its quality rather than how established in the market your company is," said Liu.

"But look, at the end of the day, if someone's going to try to threaten something that is existential, you go to the mat and you fight."