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"China is the world's second-largest toy market and the world's largest toy exporter. The global toy markets have been declining slowly for the past few years but China still sees stable growth," said Chih-yuan Wang, retail research director of Mintel China.

"China has been Germany's largest trading partner in recent years. Both countries should voice a shared stance against unilateralism and support for multilateralism," said Chen Xin, an economics researcher at the Institute of European Studies at the Chinese Academy of Social Sciences.

"But we are still facing big challenges in producing reliable core components, and many products are still mid-tier to low-end. We hope the roadmap can serve as guidance for companies to cultivate innovation and upgrade their plants," Xin said.

"Challenges and competition can only make strong companies stronger," Wang said. XCMG converted the slump into an opportunity to review its weaknesses and come up with corresponding solutions.

"China is already backlogged several years for EB-5. That, combined with the price increase, will deter many potential Chinese EB-5 investors from applying for EB-5 visas after November."