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"China is the world's largest car consumption market and has huge potential in car consumption finance. We look high to the leading companies like CARS in their abilities of managing both car trades and risk management of big data finance," said Gao Dong, executive vice president at ICBC International Holdings Ltd.

"China expressed concern over the grave US trade protectionist tendency in steel products," Wang Hejun, head of China's Ministry of Commerce Trade Remedy and Investigation Bureau, said in a statement posted on the ministry's website.

"China is trying to address the concerns that have been raised since the last Belt and Road Forum two years ago. One of these concerns is the need for infrastructure projects to be more responsive to the local circumstances of BRI member countries."

"China firmly opposes (the misuse) and hopes that the US will remain rational. In the meantime, we will follow the situation closely and will be prepared for future change," he said.

"But we've taken strong measures to ensure the transportation capacity, which have achieved rather good results so far."