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"Cooperation in these areas can have a transformative impact on the Philippine economy. It can ease traffic congestion and disperse development outside metropolitan areas, unlock the potential of the countryside through more efficient farming and faster connections to markets in the cities, ensure access to clean, green and sustainable sources of energy and expand the country's manufacturing sector," Pitlo said.

"Compared with optical fiber and other means of traditional communication, the 5G technology features flexibility, low costs of construction and maintenance and scalability.

"China's baseball history is some 20 years short and there are only about 10 baseball diamonds nationwide. We are relatively inexperienced and we can learn a lot from US baseball in terms of training, professionalism and market development," Yan said.

"Compared with traditional infrastructure investment, the new infrastructure program has a strong technology focus. For instance, 5G will revolutionize the way business and people interconnect around the world," Gibbs said, adding that the company will align its strategies to the initiative.

"Chinese investors are more cautious about investment. They no longer chase those hotbeds but start to think about business sustainable in the long term," said Xu.