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Analysts said high operating costs of vehicles, expensive rates and the limited number of cars as potential reasons for the program's demise.

Analysts and the capital market are optimistic about the company's prospects, at least in the short term. Alexious Lee at investment bank Jefferies Hong Kong expected Great Wall Motors' sales to grow at least 7 percent in the second half this year and outperform the overall market, thanks to new models, flexible financing and China's antipoverty campaign.

And Amazon?

Analysts believe the government's recent adjusting toward a pro-growth stance was just policy fine-tuning and presaged no change in strategy.

Analysts said China will gradually put its corporate debt risks under control.