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"China is a huge market with unparalleled potential. China's consumption will top the world this year or next year, and China's GDP will also exceed the US by the end of the next decade. However, China's real estate transaction only accounts for about 1/20 of the US, posing great growth potential."

"By providing remote monitoring services, farmers can access information covering the weather, pests and soil, as well as images, from anywhere, and customers can obtain information about the agricultural products from planting and processing through to distribution," said Yi.

"China is entering a new stage of institutional and rule-based opening up, which is more advanced compared with the opening up of the market," said Zhang Monan, a research fellow of the China Center for International Economic Exchanges.

"China opposes arms race and works to safeguard global strategic balance and stability," Zhang noted.

"China is leading early adoption in 5G and has already built more than 160,000 5G base stations covering more than 50 cities as operators aim to expand standalone 5G network coverage and capacity," said Sihan Bo Chen, Head of Greater China, GSMA.