Chinese President Xi Jinping has urged foreign investors to have faith in China's business prospects in an address to major global business leaders.

FRANKFURT German automaker BMW lost 212 million euros ($250 million) in the second quarter as the coronavirus pandemic shutdowns cut vehicle sales by a quarter in the April-June period. The company saw a rebound in China, its biggest market. The net loss compared with a profit of 1.48 billion euros in the same period a year ago. The company said a positive trend was emerging in China, which was hit earlier by the virus but also reopened sooner. Sales there rose 17% in the second quarter compared with the year-earlier quarter.