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"China's manufacturing industry and logistics businesses typically shut down a week earlier and later than the official holiday period so employees can make the long journey home to the nation's vast interior," the report explained. "All in, the Lunar New Year can last up to 40 days thanks to the extended travel times and family reunions."

"Consumers with more knowledge about cars are more willing to buy second-hand cars as it is more cost-effective," he said, adding that the average age of Kaixin's customers is under 40.

"China will continue to uphold the win-win spirit, proactively integrate itself into the global innovation network and strengthen international exchanges and cooperation on technology, talent and projects," he said.

"Chinese companies are growing fast thanks to the country's reform and opening-up, which has led to increasingly rich and diversified corporate financial demands. Foreign banks can play a bigger role during the process," she said.

"Chinese companies not only look for profits for themselves. They also look for win-win results so that business could last," he said.