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Analysts believe such moves suggest sector reform is likely to speed up.

Analysts said that Xiaomi's revenue rose as its smartphone business benefited from the restrictions imposed by the United States government on Huawei Technologies Co Ltd. But with Huawei resuming the production of 4G smartphones, according to reports, Xiaomi is expected to face stiffer competition in overseas markets next year.

Analysts believe that China's sharing economy is on the rise, and high rate of growth is forecast to continue over the next few years.

And then, there are bloggers who specialize in cat-related topics. A blogger nicknamed Xiaomajia boasts more than 29 million followers on Sina Weibo, China's Twitter-like social media. Each of his posts enriches him by about 20,000 yuan via advertisements.

Analysts also said the easing yuan will help stabilize China's exports, which grew by 5.5 percent in August in dollar terms, the second consecutive month that the growth rate had fallen.