Two defeats in the space of a week sealed China's fate and means that they travel to Australia for the final match in the group with nothing to play for.
"We have young players who needed to calm down a bit," the Serbain told reporters. "I think nerves cost us the two games. The players had too much pressure on them."
"I think we have discovered many young players who will play in the Olympic Games and are the bright future of Chinese football."
Petrovic, who worked alongside compatriot Ratomir Dujkovic, was asked if he would still be in a job for the game against the Socceroos.
"I think so, I think so," was his reply.