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China's overall market had fallen since late 2018 and total sales in the first 11 months this year fell 9 percent year-on-year, according to the China Association of Automobile Manufacturers.

China's housing market is a concern to the outside world, and Lundh said the government has taken several administrative steps to get housing-price growth under control.

China's economy bounced back to growth in the second quarter this year. Macro policies, including tax and employment-oriented policies, have rendered effective support to economic recovery, Guo said, adding monetary and fiscal policy also played an important role. 

China's investments in building infrastructure even in remote areas may appear uneconomic to outsiders, but it has been an essential way of providing opportunities to hundreds of millions of people.

China's insurance regulator said on Monday it will intensify regulation of outbound and real estate investment, a move to prevent valuation risks abroad and guarantee the stability of the nation's foreign exchange reserves.