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And on Oct 13, construction of the southern base of China Automotive Technology and Research Center formally began in Zengcheng. The project, which cost more than 1.85 billion yuan, is a base as regional headquarters and a public technology service platform for testing whole cars, automobile parts and new energy cars.

Analysts have predicted a whole-year sales fall for the Chinese market. Lang Xuehong, deputy secretary-general of the China Association of Automobile Dealers, warned at a recent forum that the fall could reach 5 percent compared with 2017, and the market could see a recession that will last for at least three years.

Analysis from Yicai.com concluded that Shenzhen's consumer attraction is partly divided by Hong Kong, the world-renowned shopping center. Peng Peng, the executive chairman of the Guangdong Society of Economic Reform, said people in Guangdong province prefer to go shopping in either Hong Kong or Guangzhou, while Shenzhen has less shopping attraction than other cities.

Analysts said China's developers have been seeking financing resources besides credit lending and bond issuance in the domestic market. They have been stepping up the raising of funds from bond issuance in overseas markets, and more developers are likely to raise funds by selling shares.

An old US car passes in front of a cruise ship docked at Havana's Harbor, on June 5. ADALBERTO ROQUE/AFP