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"Crawfish has become one of the most sought-after and highly recognized summer foods in the country. Continuously launched new flavors in the market further stimulated the demand from consumers. They helped to enlarge consumer group scales, and raise the average spending and eating frequency," said Neil Wang, president of consultancy Frost & Sullivan in China.

"Companies need to seek refined operations to reduce the cost and then offer better services to retain users," Sun added. "The bike rental fare hike may help companies ease the pressure to turn profitable. However, bike-sharing platforms may also face problems such as the loss of many users. As the ride costs the same or even higher than the bus, shared bikes may lose certain advantages."

"Compared with traditional venture capital, CVC has the advantages of a longer investment cycle and higher risk tolerance, and it can offer startups with more value-added service," he said.

"Compared with SARS, COVID-19 is a very cunning, being more infectious yet in some cases without obvious symptoms."

"China was opening-up and I thought that it would become extremely open one day. I knew it was the right time to go to China," he recalled.