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Chen Qihua said it's a good sign that the industry, which used to attract hot money, has cooled down after years of market adjustments. The phasing out of inefficient companies can "ensure the sustainable development of the industry", he said.

Chery and Great Wall unveil compact SUVs aimed at European, US markets

Chen's mother Qin Liu, in her late 30s, an engineer with a Beijing-based internet company, said her son is still learning the English alphabet at the kindergarten, but can assemble Lego-like kits into a beetle, a cat and a frog in a jiffy.

Chief Carmen Best: I would agree with that. The issue is what are we doing with that technology when we find it. And the regulations and the rules around it aren’t keeping up with the fast development of it. So while we think it’s really important, we want to make sure that we protect people’s privacy, and those issues that come into sometimes the conflict with the technology that we have.

Chen noted that when new policies are introduced, there will be a verification process for the healthcare insurance departments, hospitals and online platforms. "The government's supervision is necessary, to avoid false diagnosis and wrong treatment information," she said.