Huang's decision should be viewed in the context of the dwindling room for growth of the so-called platform-based economy, where internet giants expand quickly to reach economies of scale, as profitability plateaus and supervision is enhanced, said Cao Lei, director of the E-Commerce Research Center at the Internet Economy Institute.

However, Huawei further expanded its smartphone market rate to 36.9 percent this quarter from 28.7 percent in the same period of 2019, with other Android phone brands seeing their numbers dwindling, according to the data analysis firm Aurora Mobile.

Analysts said such a move will undoubtedly increase global burden, as there is already a fragmentation of supplies and trade volumes are dwindling amid the novel coronavirus outbreak.

"I'm proud to lead a company that develops technology to help solve some of the world's most pressing challenges - climate change, dwindling natural resources and rising demand for food and feed as populations grow," he wrote in his LinkedIn introduction online.

Amidst the dwindling customer footfall, Italian fashion house Prada plans to close its 1,393-square-meter store at Plaza 2000 along Russell Street in Hong Kong's Causeway Bay district when its seven-year lease expires in June 2020.

With margins from the personal computer market dwindling, the company has shifted focus to expansion in sectors like gaming, music and video collaboration categories.

This comes against the backdrop of a weakening property market and dwindling global demand.

In addition, as rational plans for the future trend of returns on investment are made partly based on the existing age structure of the population, we expect capital dividends will dwindle as aging accelerates.

Li Kuiwen, a spokesman with the General Administration of Customs, told a news briefing last week that despite strong momentum last year, China's foreign trade could face more instability as it deals with challenges including dwindling demand, supply shock and weakening expectations.

Li and his team are also working to introduce a fast-in-and-fast-out trade model, which means closing deals quickly, to avoid risks from commodity price hikes and dwindling dollar value.

"However, the growth rate may slow in the second half due to the dwindling effect of policies and slow recovery in small and medium-sized enterprises.

Oversupply concerns weigh heavily on the steel sector in China as some 80 million metric tons of fresh capacity will hit the market this year amid dwindling demand due to the COVID-19 epidemic, an industry expert said.

The tourism rebound came after a relaxation of travel restrictions amid dwindling COVID-19 cases in the country.

The chamber said container availability is dwindling sharply at major European ports like Hamburg, Rotterdam and Antwerp.

"With the (COVID-19) pandemic rampaging across the world and air passenger services dwindling worldwide due to the outbreak, cargo volume carried by passenger planes has plummeted and shipping costs have risen significantly," Li said.

Zhu Hong, an NBS senior statistician, said the decline in industrial profits in August was mainly affected by the slowdown in industrial production and sales, dwindling producer prices, a super typhoon that battered coastal China and other unfavorable factors.

Faced with the prospect of declining sales and dwindling footfalls, bookstores are writing a new chapter in the history of China's publishing industry by turning innovative and underlining enriched experiences for consumers.

Property sales had declined across China during the three months to July, both in terms of newly built and pre-owned homes, largely due to dwindling credit options and tightening policies, according to the Shanghai-based E-house China Research and Development Institution.

New tax rules implemented last year, including a $38 per barrel gasoline consumption tax and a $29 per barrel tax on diesel, have seen the fortunes of the country's some 40 independent refineries dwindle after several years of bumper profits since they were first allowed to process imported crude oil in 2015.

The joint venture pays Dongfeng for the use of the plants to produce Peugeot and Citroen cars that are seeing their sales dwindle in the country.

Chen Qingtai, president of China EV 100, said business is proving difficult for some new energy vehicle makers, especially startups, as they face a sluggish market, dwindling government subsidies and more prudent investors.

Such a move will undoubtedly add a burden on the world, which is already struggling with fragmentation of supplies and dwindling trade volumes amid the novel coronavirus pandemic.

Analysts said that the current selling trend could be dwindling as investor sentiment may gradually improve in the second quarter amid more clarity on China's monetary and fiscal policy direction.

The Central Economic Work Conference in December, which laid out priorities for China's economic policies in 2022, highlighted headwinds including dwindling demand, supply shocks and weakening expectations while pledging to prioritize economic stability.

Because the e-CNY represents the PBOC's direct liabilities to the public, users could directly hold digital currency accounts with the central bank and profits of commercial lenders' deposit businesses may dwindle.

China's current account has been influenced by the novel coronavirus pandemic, largely due to weaker external demand and dwindling trade surplus in goods.

Of all the reclaimed water, 700,000 tons drain into the river and 300,000 tons are recycled to return water to dwindling rivers or irrigate the meadows at the plant.

As stock market fluctuations may continue for a while, convertible bond market adjustments are inevitable, said Li Yong, an analyst with Northeast Securities Co Ltd. "With continuous expansion of the convertible bond market and dwindling investment targets, institutional investors must have strong capabilities in selecting specific bonds," Li said in a research note.