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"Even during the most difficult days when COVID-19 hit the country hard, we did not lose confidence in the Chinese market for one day. It is our long-term goal to increase our market share in China by seeking more cooperation. The regional headquarters in Shanghai will help to elevate the group's performance in the entire Asian market," Wang said.

"Despite the oil price rise, major airlines posted positive growth in the first quarter, fueled by the continuing high demand from the market," said Lin Zhijie, an aviation industry analyst and columnist at Carnoc, one of China's largest civil aviation news websites.

"Dealerships have been slow to restart business and consumers are delaying their orders due to the epidemic," he said.

"Developing policy and infrastructure which can satisfy the demand for consumption upgrades is key to improving the consumption growth system, which plays a fundamental role in economic growth," Zhao said.

"Even though initiating a trade remedy investigation is the legitimate right of a World Trade Organization member, the frequent and excessive protection of domestic industries will not achieve the intended purpose of trade remedies and often creates a vicious circle," said Wang.