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"China's new car market went through exponential growth. It's the biggest new car market in the world," said Emma Butcher, SMMT's head of communications, in an interview with Xinhua.

"Cloning isn't available to everyone, it's very expensive and gives certain breeders an advantage."

"Clearly, it's disruptive for us. It's disruptive for our customers," Quincey said on the company's earnings call last week. "But I think the conversations have been about how this is going to work for each and every customer."

"Civilization makes people act alike, while cultures make people different, with various identities," he said.

"China will further digitize the registration and licensing of new companies, and gradually make the process paperless and fully intelligent. By the end of the year, the government will also optimize the process and issue a guide for enterprises to withdraw from the market more easily," Zhang said.