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"China is an essential part of our long-term strategy. We are confident in the market's future development," Koay said.

"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.

"China has a well-developed supporting infrastructure for a wide range of industries with large production capacity, providing solid support for foreign investors intending to manufacture here," she said.

"But their demand for IP protection has always been growing with their foreign business expanding," he said. "So now, different sides, including government officials, company leaders and IP lawyers, can exchange their views and know more about each other's real situations, which is quite significant."

"China has the world's largest IoT market. The AI and IoT industry have great potential in China," said Roan Kang, vice-president of Microsoft China, adding that Microsoft would provide the most comprehensive AI and IoT platform, products and solutions.