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"China still has sufficient policy tools to handle possible shocks," Zhang said at the China Finance 40 Qujiang Forum in Xi'an, Shaanxi province, on Saturday.

"Companies solely trading imported cars that have a small market share will have the impulse to lower the price first, in an aim for a bigger volume," said the expert.

"Currently, epidemic prevention and control is still the top priority. SOEs are also stepping up efforts in resuming work and production. As long as we guard with effective measures and make scientific arrangements, agglomeration risks can be avoided," Xia Qingfeng, director of the Publicity Bureau for the State-owned Assets Supervision and Administration Commission of the State Council, said during a press conference.

"Consumers are now so sophisticated that some would ask whether your gelato is made from fresh milk or milk powder. And they are no longer paying for novel flavors simply because it's something unheard of. You have to make sense of all the flavors," said Lu.

"Chinese customers are not buying PSA's romantic designs as they fail to meet the needs of Chinese consumers," said the sources.