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"Car sales soared by more than 50 times over the past seven years," said a salesperson with a local auto sales company.

"China has been exploring the relationship between government and market by carrying out a series of pilot reforms," Xu said.

"But the space on the monetary side is limited as we need to stick to efforts to promote deleveraging moves, while room for fiscal expansion remains ample - more tax cut policies can help to soothe economic concerns, in particular value-added tax," he said.

"But the future of this sector is promising," he added.

"China has always been the nucleus of our global business map, and it will remain so, given that over 50 percent of the world's construction is taking place in China. The country is also the vanguard of high-density urban planning, setting the standards for other countries to follow," said Keith Griffiths, chairman and global design principal of Aedas, the British architectural design firm.