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Another dichotomy is the growing popularity of Chinese local brands versus their foreign peers. A poll by Bain ahead of this year's event suggested that roughly half of the respondents said they are fond of local brands, with just around 10 percent or so preferring foreign brands.

Another highlight of the report is that developing countries are increasingly embracing science and technology for a better future. India and China have a strong science and technology ecosystem in areas like Artificial Intelligence and digital, and leapfrog innovation is helping people across Africa overcome infrastructure constraints.

Apart from constant backing from the government and universities, more investment from the private sector is needed to facilitate the manufacturing of Hong Kong's high-tech anti-epidemic products, say experts.

Apart from deploying new base stations, Huawei's solutions enable Rain to fully leverage its existing LTE network and allocated spectrum for 5G deployment. This approach of sharing facilities and leveraging existing infrastructure will enable Rain to roll out the 5G network in a quick and cost-effective manner.

Anxiety erupted in China earlier this year after two South Carolina utilities announced they will abandon two unfinished nuclear reactor projects in the US state.