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"During that period, China was starting its reform and opening-up, but the door was not quite open, just a little bit," said Moon, who has lived in China on and off since the '80s, initially serving as a senior diplomat and later returning as an executive in the private sector.

"Declining sales growth does not mean we are experiencing consumption downgrading," an industry expert said. "In fact, sales growth of luxury cars and joint venture-branded cars are still much higher than that of Chinese-branded cars with lower price tags."

"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.

"Due to the rapid rise of China, the US always sees China as a big threat. If Hong Kong is unsettled, the city will lose its functions of contributing to the nation's development, with the trade dispute being one of the US tactics to unsettle China.

"Destocking will become harder in lower-tier cities where the process is yet to be completed and which are witnessing more population net outflows," Xie said. "Once the scrutiny process becomes harder, the sales volume will slow."