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"Facing external uncertainties, China has been unswervingly opening to the outside world to increase its resilience to risks and shoulder its responsibility as a major country," said Wang Xiaosong, a research fellow with the National Academy of Development and Strategy under Renmin University of China.

"Every day, I think maybe today's the day the nightmare will be over, but it's not," he said. "You see this number is, basically, reducing, but not at a tremendous rate.

"Faced with these challenges, we keep our positive expectation on the Chinese economy. It is able to avoid serious capital market fluctuations, based on its huge household savings and sufficient exchange rate reserves," said Jing Ulrich, managing director and vice-chairman of Asia-Pacific, JPMorgan Chase.

"Even in the coronavirus crisis, the Volkswagen brand is consistently moving ahead with the changeover of its plants to e-mobility in line with its plans," the company noted.

"Each line's annual output value can reach about 100 million yuan, but small factories can't afford automated facilities so they have come under great pressure. They are now more likely to look overseas because the export business hasn't been affected by automatic lines. Different importers have different requirements and the orders are usually small, which makes the use of automatic lines difficult," Liu said.