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And there is no better place to witness these developments than in Wuxi, a national hub of the internet of things sector that has been promoting and developing IoT applications for the past decade.

Analysts from China International Capital Corporation Ltd wrote in a report that companies with their business focused on upgraded consumption and new economy are likely to show strong performance in the mid- to long-term.

And young people should learn to take some risks in other places, he added. "You have to be creative. You have to be brave. You have to be intellectually curious."

Analysts said the ruling could prompt more pay TV companies buying television and movie makers, including Comcast Corp's bid for some 21st Century Fox Inc assets.

Analysts attributed the slowing profit growth to economic slowdown, and believe the country's debt-for-equity swap policies and enhanced government regulation helped improve their bad loan management performance.