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"Chinese consumers are increasingly discerning about their luxury purchases, demanding more variety and choice than ever. As we look to continue to meet this demand, we see many potential areas for future collaboration with Secoo," Hu said.

"China's securities regulator has specified corporate behaviors that will trigger delisting from stock exchanges in the revised rules, which will make compulsory delisting more doable and improve the efficiency of delisting processes," said Dong Dengxin, a finance professor at Wuhan University of Science and Technology.

"Citizens who own this card can enjoy many benefits. For example, they can get a 50 to 60 percent discount on bus or subway tickets," said Yang Shasha, a staff member of a state-holding company, which is in charge of issuing the cards.

"Currently, Chinese people are ushering in an era of consumption upgrades that attached more importance to development and enjoyment, providing strong support to create a robust domestic market," said Wang Yun, director of the consumption office of the economics institute at the China Academy of Macroeconomic Research.

"China's smartphone market is huge, and although it has fallen for two consecutive years, it still accounts for about 30 percent of the global market. In such a big market, there are many niche users, who will satisfy the survival of the niche brand itself," said Jia Mo, an analyst from global market research company Canalys.