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"China has the best resources in frequency spectrum and base stations. Local consumers and enterprises have some of the highest enthusiasm and willingness to embrace 5G. And the governments have rolled out favorable policies," Xu said.

"Canceling the related activities had no obvious impact on our revenue," Ge said.

"CIIE is an ideal opportunity for Shanghai to upgrade its trade, consumption and opening-up," she said.

"By expanding our partnership with WeChat, we are able to communicate with potential Chinese visitors on the platform they use most," Elliott L. Ferguson II, president and CEO of DDC, said in a press release on Tuesday. "We can also enhance the visitor experience for more than 300,000 Chinese travelers who visit Washington DC every year."

"But we need to pay attention to the side effects of financial policies and prevent any effect from the COVID-19 pandemic," he said. "The total financial support measures should be appropriate, but it is also necessary to consider in advance a good timing for an exit of the policy tools."