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Dong Dengxin, an economics professor at Wuhan University of Science and Technology, said trade tensions also hurt the world economy by raising costs for consumers and enterprises as a result of disrupting international specialization and cooperation. “This will in turn weigh on the growth of consumption and investment,” he said.

Dubbed as an "IoT city", Wuxi has hosted the annual WIOT since 2016. The exposition – China's top IoT event – will help enterprises seek international business opportunities with a display of their latest technologies and applications, as well as provide insights into the future trends of related industries through discussions between leaders in the field.

Due to the advent of technologies like mobile internet and internet of things, new cybersecurity risks are emerging due to the new era of pervasive connectivity.

Dong Yan, a research fellow at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said, "Mutual trust is an essential factor for resolving China-US trade issues."

Duan Yaohui, Oppo's vice-president, delivers a speech at the Oppo Developers Conference in Beijing. [Photo provided to China Daily]