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And so what happens to mobile developers who build these apps is that they have to make this choice, they either have to build it the way they have been building it, which is really rich and computationally intensive, and then they can really only sell that to end users who have high-end hardware, which is a very small portion of the market segment. Or, if they want to reach the mass of end users, who have far less capable hardware, they have to water down the experiences. So, that is kind of an unhappy choice that app developers have to make.

An open-air book market opened in downtown Shanghai on March 21. Customers wearing masks strolled in the spring breeze.

Analysts say Pinduoduo gained a foothold in the market thanks to the shortcomings in some of Alibaba and JD's models.

Analysts said that as demand for medical treatment and healthcare services for people with mental disorders is rising, high-end, privately-owned service providers are likely to grow rapidly in the next few years.

Analysts at China International Capital Corp Ltd said in a research note that A-share valuations could be more attractive after the latest correction and the stock prices will likely be supported by the listed companies' earnings improvements.