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Analysts believe Mercedes-Benz and BMW will compete for the crown this year, while Audi, though almost certain to lose the title it has kept for decades, is expected to narrow the gap.

Anhui province will invest 1.3 trillion yuan in nearly 7,000 projects this year, a provincial development and reform commission official said at a press conference on Friday in Hefei city. [Photo provided to chinadaily.com.cn]

And the Fed's policy-setting Federal Open Market Committee at the conclusion of its two-day meeting on Wednesday pledged to hold rates at zero "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals".

Analysts at Moody's Investors Service said in a report that China's economic recovery will continue despite external headwinds and the government will likely maintain favorable credit conditions to help companies and households recover from the COVID-19 pandemic.

Analysts agree that tax reduction has played a significant role in further boosting market vitality and driving industrial development.