Sean Green, President and CEO of BMW Group Region China, expressed his confidence in China's economy during an interview with People's Daily Online at the China Development Forum on March 24.

Green believes that trade-ins of consumer goods, including vehicles, will be a welcome policy in the auto industry, which will stimulate consumer behaviors again.

"People have money saved up in accounts, and we need to release some of that spending into the market,"Green explained.

"I am still confident this year," Green said. "We still see China opening up. We've taken advantage of that with our shareholding in the local joint venture BMW Brilliance (BBA). So, 75 percent of shareholding that we have through BMW, and we continue to see that."

He said BMW just opened an insurance broker company last year, which is a great example of establishing new businesses in China. "So opening up continues," he said.

(Ye Jingyi, as an intern, also contributed to this video.)