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"Chinese consumers have been really receptive to the product and its proposition. The reuse rate is extremely high. We see a robust market there owing to Chinese mothers' preference for safer and more premium baby formulas, the consumption upgrade and the universal second-child policy, that have helped to adopt and grow this new category and lead a new trend," he said.

"Compared with the existing ChiNext board that's heavy with innovative, high-growth companies, the new board will feature the registration system, and thus attract investors with higher risk tolerance and investment expertise," Dong said.

"Compared with traditional punishments which had limited influence and were hard to execute completely, the new approach is a more powerful deterrent," Liu said, adding that the move also contributes to building the broad social credit system.

"Chinese short video apps have received a boost in recent months, with a particular focus on overseas markets," Dai said. "For instance, Douyin and Kuaishou have become popular in Japan and Southeast Asia, respectively. I expect they will see more downloads and revenue coming from overseas markets in the near future."

"Compared with my parents' generation, my generation knows better how to enjoy life," Cao said, shortly after preparing for a roadshow at the Zhangjiang Hi-Tech Park in Shanghai's Pudong area.