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"Carmakers have expected a gradual cut in subsidies, the buyers will see a higher price, but it will not have a big impact because most of them live in large cities where gasoline car license plates are hard to obtain."

"China is a very important market for us both in terms of imports and exports, and for foreign direct investment. We also see a lot of opportunities because China is a very large market," said Timothy Kelley, president of the Imperial Valley Economic Development Corp, a partnership of private enterprises and local government that focuses on growing the regional economy.

"China has successfully managed fast and strong economic growth for decades; the country's pace of innovation today is also unprecedented," Gibbs said.

"But when I got older, I started to appreciate the beauty of handmade lanterns. I also got a sense of satisfaction from seeing my own creations."

"China has recovered from the pandemic in an exceptional manner. We have seen the quick recovery of the Chinese economy and the construction industry that Caterpillar serves. In our segment, the Asia-Pacific region has remained largely positive in the third quarter, driven by the continued strong demand in China," said Chen Qihua, vice-president of China operations at Caterpillar.