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"Countries all over the globe are attempting to deploy 5G and in Myanmar, the network standard is projected to see commercial use in 2020-21," he said, adding that "As the world's leading vendor of 5G, Huawei is collaborating with industry partners to help all operators in Myanmar realize their 5G dreams."

"China's manufacturing capability and huge market potential will continue to attract innovation-driven companies to move to the market to commercialize their latest technologies quickly at a lower cost," she said.

"Competition has also risen, as new drugs have a limited window of opportunity to be profitable before an enhanced and more improved version of the same product is introduced by a competitor," Feldman said.

"China's higher education has made a great leap, but it is still lagging behind in some basic research areas. There are still some breakthroughs to be made and some demands from society to be met," he said. "So we need to nurture more outstanding creative talent."

"Compared to the downturn seen in smartphone demand and many other segments in the first six months of this year due to the devastation caused by COVID-19, the smartwatch remains a popular consumer device segment," said Sujeong Lim, senior analyst from Counterpoint Research.