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"Cash reserves are running down quickly as fleets are grounded, and ... demand is drying up in ways that are completely unprecedented."

"China is playing an increasingly important role due to the sale of hearing solutions via private specialist stores and retail chains, he said, adding the country shows a vast potential in market penetration as an estimated 70 million people in the country suffer from hearing loss, but a mere 5 percent own hearing aids.

"China continues to defy predictions of a hard landing," said Jan Dehn, head of research at Ashmore Investment Management Ltd.

"China has embraced mobile payments faster than any other country and will continue to lead the global charge in this regard," said Vishal Bali, managing director of Nielsen China.

"China is by far the most important market to grow, and has the biggest growth opportunity," Kapitany said.