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"Buyers are basically paying for a power battery, as the battery in an electric car is so expensive that it makes up about half of the production cost," he said in an earlier interview.

"China is Estonia's largest export market in Asia. In the first half of this year, Estonia's exports to China increased by 22 percent year on year," he said.

"China is an important market for Qualcomm and we have a number of important partnerships and relations here in China," he said.

"By any global measure the Australian approach has been a spectacular success," Tania Sorrell, an infectious disease researcher and chair of the committee that produced the report, said in a media release.

"But that means that the market is reaching its bottom. Investors should avoid dumping shares of good companies," Yang said.