As the capital market getting cold, the development of the internet in China has entered the phase of merger and acquisition, and the consolidation of the industries is an inevitable trend.

Anbound's research team is of the view that the teaming up of Baidu, Ctrip and Qunar should be understand as the huddling for warmth driven by the capital, showing that the outlook of the internet industry is indeed not optimistic.

The sluggish performance of the internet market in China is not only reflected by the online travel service but also in many other Online to Offline (O2O) markets.

This means that the possibility of internet sector in China showing sign of defeat has just grown bigger.