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"China has always been the fastest-growing and biggest potential market for Steinway. It is also the market that we have been investing most heavily in," she added. "After being here for about 20 years, we are finally at a phase of stable growth every year. We think it is the right timing."

"But make no mistake, sir, while these factors do exert a negative force on the challenges we face, at the core, this issue is about leadership, especially command," Richardson said.

"China has already risen as a major car manufacturing power and the largest automotive market in the world," Chen said. "But in terms of car exports, we have yet to achieve a global market share that matches these titles."

"CATL will provide localized services with a local team in Sweden for localized battery supply services and more efficient communications," the battery giant, based in Ningde, Fujian province, said.

"But there is no need to panic. The contraction in earnings of most industrial sectors should substantially narrow in the second half of the year as domestic demand recovers," Yang said. He also underscored the importance of offering more tax relief and financial aid to hard-hit exporters as well as small businesses.