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"Great growth potential lies in consumption upgrades, as people's demand for services of a wider range and higher quality continuously rise," said Zhang, who is also a senior researcher at China Finance 40 Forum, a think tank.

"For the past years, when we talk about the speed of smartphones, we are thinking about hardware. Yet the improvement in hardware has reached a bottleneck; even when the processing speed doubled, it brought negligible differences of fractions of seconds to users.

"Going forward, we are quite excited to work with the firm to drive the sustainable development of Maoyan in the Chinese entertainment industry," he added.

"Forty years after China's reform and opening-up, China's supply chain, manufacturing chain, as well as its talent pool, have probably grown to the top position in the world," said Wu Peng, general manager of marketing and sales at Dreame Technology, a Tianjin-based company that specializes in smart household appliances. "Along with the development of these basic infrastructures, Chinese brands have become very competitive in the world."

"For a company, its ability to offer a more convenient and comfortable experience, especially in different scenarios, can help to decide if it could lead the Chinese car-rental market," said Zhang Xu, an independent internet industry analyst. "UCAR is doing quite well in its various niches and the business consolidation is a looking-ahead adjustment."