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"China has developed the new energy vehicle industry for almost 10 years. The customers have learned to buy electric cars, which will help expand the market," said Cai Jianjun, executive vice-president of Aiways.

"But slashing prices may also have a side effect: hurting its brand image," Xiang added.

"China is incredibly important and becoming increasingly more important every day (for us). Our Chinese business is very Chinese, as it is led and run by Chinese people, and populated by Chinese people," said Abbosh, adding he is bullish on the prospects of the company's business in China.

"By expanding our partnership with WeChat, we are able to communicate with potential Chinese visitors on the platform they use most," Elliott L. Ferguson II, president and CEO of DDC, said in a press release on Tuesday. "We can also enhance the visitor experience for more than 300,000 Chinese travelers who visit Washington DC every year."

"China has taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture and medical treatment sectors," said Li Guanghui, vice-president of the Chinese Academy of International Trade and Economic Cooperation.