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"Didi's intensified overseas efforts, including this fresh fundraising, will no doubt pose a great threat to Uber. Uber's valuation is shrinking due to its operation problems while we witness Didi is ascending in overseas markets through cooperating with local partners," Zhang added. In the past few years, Didi Chuxing has been pushing its overseas presence rapidly with investments in several of Uber's rivals globally, including US-based Lyft, Brazil-based 99, India's Ola, Singapore-headquartered Grab, Estonia's Taxify and Careem in the Middle East. It also ended the battle with Uber in the Chinese market last year by acquiring Uber's local business.

"Each market has its own unique preferences when it comes to how local people want to express themselves through photos, videos and personal styles," said Fox Lui, head of Meitu's international business.

"Due to the COVID-19 pandemic, net capital inflows are important for the low-income countries. On the other hand, this will further increase their debt burden," Jin added.

"Even though I didn't get a chance to work on the high-speed trains, I've found that the crowd on ordinary trains during chunyun has declined greatly," he said. "More passengers prefer the faster way. The time between Jilin city and Dalian in Liaoning province - the route that I worked on - has been cut from 12 to four hours."

"Developers need to pay more attention to their financial resilience. Considering that the lending environment is still tight and the debt repayment peak is nearing, developers need to formulate a more selective strategy when making investments," said Xie.