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"Cashierless stores are going to be big business in China, as our research showed that Chinese shoppers have exhibited this very strong tendency of doing research online by themselves and self-serving when they make purchases," said Spencer Leung, a consumer analyst at Swiss financial services firm UBS.

"But the policymakers would need to skillfully manage liquidity so that the case does not fuel a series of defaults, which would make the market nervous. We expect the Chinese government will be able to manage the rising credit risks in China," Pang added.

"China has been the only country that is able to manufacture a wide range of industrial products. In fact, China was the world's largest manufacturing country for over 220 out of 500 kinds of major industrial products," he said.

"But they have to elevate their product quality to meet future challenges. There won't be a clear distinction between customers' expectations for Chinese and foreign volume brands."

"China is determined to make NEVs a success and Volkswagen is determined to make it a success, and I am confident it will happen," said Woellenstein.