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"By the end of last year, dealers had an average stock of two months," said Chen. Usually, the stock would be deemed unhealthy if it's more than 1.5 months of sales. Chen said the primary task for vehicle makers in the coming months would be to ensure reasonable stocks.

"But we have our unique advantages－our dedication and focus over the past four years have given us probably the most complete set of building blocks for the era defined by intelligence, namely, SIOT and smart infrastructure, along with AI, big data, and services," he said.

"China is an incredibly important destination for Airbnb globally," said Nathan Blecharczyk, co-founder and chairman of Airbnb China.

"By then, we could be a 0 million company," the entrepreneur said. According to Parafuzo's funding brochure, the company, which was set up in 2014, already had a break-even cash flow by November 2016 and in that year, it had .93 million in GMV, 3,000 in net revenue and 3,000 in net loss.

"China is leading the world in terms of new and fast-growing tech companies and that's exciting," he said. "The amount of capital being invested into startups is unprecedented and there's no indication that's going to change anytime soon.