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Angelo Bonati, CEO of Officine Panerai, an Italian premium watchmaker, once jokingly said, "In today's global watch market, not paying attention to the Chinese market is like a blind man walking."

Analysts have attributed the country's sound economic development to its helmsman, the Chinese government empowered by the Communist Party of China (CPC).

Analysts say strong overall demand has been firing up production. "Overall, the PMI data suggested recovery momentum has more or less stayed," chief China economist at UBS Wang Tao told Bloomberg on Monday.

Analysts have been eager to see whether Apple can meet demand for the iPhone X during the crucial holiday quarter, with most saying it will likely take Apple until next year or early spring to do so.

Analysts say that while there is little doubt that NEVs will eventually prevail, how long the switch takes remains to be seen and depends a lot on infrastructure and technology improvements as well as how fast automakers can adapt.