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"Even if some companies wanted to move out of China, investment plans have been significantly scaled back because of the pandemic," he said.

"Even though the model might be improved, their profitability may not meet industry expectations."

"Demand for new cars is slowing, while that for used cars is constantly expanding, thanks to the government's favorable policies, an increase in car ownership, people's transformation to a more rational consumption attitude, as well as the growing number of people who plan to change or buy cars," said Yang Haoyong, CEO of Chehaoduo Group.

"Fewer young adults see marriage as important for personal life satisfaction or a necessary prerequisite for having children," Jonathan Abbamonte, a research analyst at the non-profit Population Research Institute in Virginia, told China Daily in an email.

"Driven by the desire for smaller waistlines and healthier lifestyles, more people, especially the younger generation, are willing to spend time and money on fitness and slimming courses," he added.