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"Car service consumption mainly happens offline. With the liberalization of policies and the maturity of technology, more and more internet companies are entering this field. However, as car service consumption is large-scale, combining online services with offline experiences is important," said an official from Tiantu Capital.

"But the downturn was so big – the hole that was dug was so deep – that it will still take probably at least a couple of years to dig ourselves out."

"But such a seemingly booming scene of 'luxuriant foliage' is, in fact, very dangerous, and it can be upended in an instant, because it is not supported by 'deep roots' under the ground," he said, referring to the lack of homegrown core technologies such as high-end chip manufacturing techniques.

"China goes far ahead of the rest of the world in customer-oriented digital environment, with a huge amount of user data accumulated, and lags behind leading economies in the business-oriented digital environment, such as the manufacturing and supply chain," said Zhou Jieqi, a partner of EY Parthenon Transaction Advisory Services.

"China is unlikely to sign long-term LNG contracts with the US soon, but it is already importing American gas from the spot market," said Wang Lu, an Asia-Pacific oil and gas analyst at Bloomberg Intelligence.