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"Consequently, sanctions lifting commitments under the JCPOA continue to apply," he said.

"Considering China's effective measures to control the pandemic and resume work and production, those measures will ensure the economy performs well in the coming months, attracting more foreign investors to the country," Cui said.

"China will remain a must-win market for car brands in the foreseeable future," said Paul Gao, senior partner and head of McKinsey's automotive practice in Asia. "As Chinese consumers continue to become more sophisticated, automakers must reinvent their success formulas to surprise and delight them."

"Considering the European market tends to be conservative and stable, the end of the EU's restrictions won't affect demand immediately but the demand in the European market is likely to be higher than the originally anticipated figure due to price cuts starting from next year," he said.

"Countries in East Asia and the Pacific that were already coping with international trade tensions and the repercussions of the spread of COVID-19 in China are now faced with a global shock," said Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank.