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"China's data backup and disaster recovery market is a huge gold field as data security is critical for both the country and companies," said Wu Yuliang, a senior expert in data backup and also a member of the Jiusan Society, an organization that mainly consists of intellectuals from fields including science and technology.

"Chinese tourists now have better jobs and know how to share information, especially those born in the 1980s and the 1990s (Millennials)," Chen said.

"China, over the past 10 years, has seen rapid growth in the IoT industry and the enterprises involved, but it hasn't gained an explosive momentum," said Ye Tianchun, director of the Institute of Microelectronics at the Chinese Academy of Sciences.

"China's uniquely advantageous position on the global economic stage is incomparable. The country offers an enormous wealth of hard-earned experience as well as technology that can be shared and transferred among developing countries," said Rachel Duan, president and CEO of GE China.

"Chinese operators' investment in 5G will reach 5 billion U.S. dollars this year, and around 70,000 to 90,000 5G base stations will be built across the country," said Canalys Analyst Mo Jia.