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"China has a great potential to expand domestic demand in city clusters and metropolitan areas, as a growing number of middle-income consumers will further stimulate demand by taking more flights. Besides, the urbanization rate is still low and development in different areas is uneven, and there exists untapped demand," she said.

"But the mortgage held accountable is enough to cover the loan," a LeEco spokesperson said.

"China is getting a foothold in Latin America. It is using economic statecraft to pull the continent into its orbit," he said in a Feb 1 speech.

"By now, the company has formed a global supply chain and manufacturing system. Based on our overseas business, we are actively promoting the localization of marketing and services, by establishing overseas subsidiaries in countries and regions like the United Arab Emirates, the Republic of South Africa, the United States and Mexico.

"By participating in NADA, we hope to speed up the building of our global dealership network. GAC Motor has always insisted on building high-end, world-class products with a craftsman's spirit," Yu said.