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"For example, our recycled pulp, which is a very sustainable and clean product from the Fairmont mill, is subject to 20 percent tariffs, while the wood pulp products that we produce in Maine are subject to 5 percent tariffs," Liu said.

"Further studies must be conducted to make these 31 measures easy to understand and easy to implement. The relevant government authorities should also supervise the implementation of the new policies, identify problems and make timely adjustments," he said.

"Flexibility in this year's specific timing and pace of rolling out the reform can be expected, given the lingering uncertainty of the virus," said Liu Wenqiang, a researcher with Shenzhen-based Great Wall Securities.

"Following strenuous efforts, the positive trend of China's epidemic situation has taken hold and is expanding," Mi said, adding that most counties in the country are deemed at low risk of the virus' spread.

"Ford has some issues because the Explorer comes from Chicago and most if not all Lincolns come from the US. These are some of the most profitable vehicles it sells so higher prices hurt a lot especially relative to the Germans, GM and VW with factories in China more than Ford," David Whiston, auto analyst for Morningstar Inc said in an email.