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Analysts have predicted a whole-year sales fall for the Chinese market. Lang Xuehong, deputy secretary-general of the China Association of Automobile Dealers, warned at a recent forum that the fall could reach 5 percent compared with 2017, and the market could see a recession that will last for at least three years.

Analysts say higher US inflation and interest rates have made holding US treasuries more expensive, reducing overseas demand for US treasuries in recent months.

And sometimes that abstract-yet-solid connection is even harder to put in words.

Analysts said that the CSRC's statement highlighted the encouragement for the greater role of the financial markets to serve the economy, which was emphasized by the top policymakers at the recent National Financial Work Conference.

Analysts believe that major automakers have launched their electric vehicles because of new auto emission reduction rules among European Union countries. An agreement was reached in December last year that aims to reduce the carbon dioxide emissions of new cars in the EU 37.5 percent by 2030, compared with 2021.