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"Cash reserves are running down quickly as fleets are grounded, and ... demand is drying up in ways that are completely unprecedented."

"But the country has a weak voice in industrial software, which requires long-term effort for fundamental and comprehensive research as well as hefty capital investment. We should have the determination to develop such software over years or decades," Chen said.

"China has a well-developed supporting infrastructure for a wide range of industries with large production capacity, providing solid support for foreign investors intending to manufacture here," she said.

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

"But the current trend shows there will certainly be more insurance funds to enter the market," he added.