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"Dreams end quickly on Wall Street," John E. Fitzgibbon, Jr, founder of IPO Scoop, told China Daily. "The company waited too long to go public — It should have come out several years ago. The deal also came out at the top of the market, and that's not the best time to launch. Worse, the deal debuted as the broad market fell in early trading on fears of a trade war with China."

"Extending the subsidies will help buffer the impact of the pandemic, boost car sales, increase the sector's competitive edge and finally promote its high-quality development," said the finance ministry in a statement on Thursday.

"Earnings momentum has cooled this year along with the economy, and we expect the trend to extend into 2019," said Gao Ting, head of China strategy at UBS Securities.

"Developing countries should continuously improve their business environment to attract FDI (foreign direct investment) by making clear and easy access, approval, supervision, tax incentives and financing," Feng said.

"Decision-makers need to know when to launch viral marketing and when they can make real money out of their audience base," said Zhang, founder and CEO of data service company GrowingIO Corp Ltd, at an open forum held by Cheung Kong Graduate School of Business (CKGSB) on Saturday.