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"Consumption downgrade is more relative as it is just about a certain period of time or a certain group of people," said Wang.

"Compared with consumers in other countries, Chinese consumers are considering purchasing autonomous vehicles, especially in the premium segment. In fact, compared with consumers elsewhere, Chinese car buyers aggressively seek autonomous driving features," he added.

"China's anti-corruption drive has played an essential role in consolidating the country's political stability and has boosted people's confidence in sustainable social and economic development," he said. Jiang said the current high level of pressure being applied against graft is expected to last even though a new CCDI is expected to be elected at the 19th CPC National Congress.

"Co-launched by China Foundation for Poverty Alleviation and Alibaba Philanthropy, the package is a public welfare activity without fiscal support," Su said.

"Chinese automakers need to conduct thorough research into the legal framework of the target markets to secure legitimacy while lowering legal risks," said Qiu Yiqing, deputy general manager of Geely.