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Analysts believe the tax exemption is a bonus for the much anticipated launch of crude oil futures in the country.

And the implementation of the e-commerce law and the consumer rights protection law also provides better and more efficient regulation of e-commerce platforms and fosters consumer protection, he said.

Anez, a conservative lawmaker, declared herself interim president after Morales and vice-president Alvaro Garcia Linera resigned.

Anand Rao, an AI consultant at PwC, said initially North America would have faster productivity gains from AI than China because of its mature infrastructure. "But China will begin to pull ahead of the US in AI in 10 years after it catches up on both relevant technologies and expertise," Rao said.

Analysts said the poor performance at its joint venture with Ford was the main culprit. The joint venture, a major profit driver for Changan, has suffered because it was late in introducing new models into China.