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Ankerbox's business model is simple — it places a pack of power banks in cafes, restaurants and other public locations, where users can take one out after scanning a QR code and paying a rental fee of about one yuan for each hour. After charging, users could return the device to another Ankerbox collector anywhere.

Another reason for cooling market activity is fewer investors are keen to buy corporate bonds as many issuers have low ratings, high leverage and weak cash flow.

Apart from OpenSky, Alibaba has a number of?U.S. investments, including Snapchat, Seattle-based Zulily, Jet.com and ride-hailing service Lyft.

Another report, commissioned by the China Consumers Association and published on March 6, also shone a light on the mounting pressure on mothers who have to juggle work and breast-feeding.

Another Chinese smartphone maker Oppo said market demand is not as pessimistic as many expected.