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Anwar Abu Sbaitan, senior executive officer of Kuwait-based asset management firm Kamco, said the UAE and Saudi Arabia represent 75 percent of the GDP of the GCC countries, hence foreign banks have to have a presence here to bank on the region's prospects.

Another problem that confronts Hyundai brand－which many believe is the root cause of its fall－is that Chinese automakers, including Geely and Great Wall Motor, are coming up with more competitive products.

Apart from the core consumers aged from 23 to 28, those under 22 are increasing rapidly, now accounting for about one fourth of the consumers on Tmall, the online marketplace. Men are also paying more attention to skin care than before, the Alibaba and CBN Data report said.

Apart from reducing overcapacity, China has reduced market thresholds and cut taxes and fees for businesses, Li noted.