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"China never aims to replace the US in the 10 industrially strategic technologies in 10 years. This is a misunderstanding and overestimation of our strength," Miao said.

"But the polarization of the pandemic has had another unfortunate side effect: Exacerbating economic harm," they wrote in an analysis titled "Politics is wrecking America's pandemic response".

"China is probably more advanced in this capability than any other markets. But these opportunities are starting to grow in other markets. So by engaging here in China and learning how to do it here, we are going to export the learning to other markets so that we can be among the first in those markets," he said.

"China has no intention of changing, still less replacing, the US. It's time for the US to give up its wishful thinking of changing China or stopping the 1.4 billion Chinese people's historical march toward modernization," he said.

"China is by far the largest market for mid-sized premium sedans. With Model 3 priced on par with gasoline powered mid-sized sedans, we believe China could become the biggest market for Model 3," the company said in the report.