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But Ren said the past three decades have proved Huawei has no backdoors. No suppliers have been facing stronger examination than the company. And to make extra effort to reduce worries, the company is willing to ink "no backdoor" agreements with foreign governments, Ren said.

But Li added that the conditions are not right for many properties in Guangzhou to see price increases, as many local developers are prioritizing destocking, driving a rise in supply.

But since its deal with 99, Didi has moved forward through acquisitions, setting up local companies on its own, or via joint ventures, said market research firm Forrester in a research note.

But Rudd was sceptical and posted on his Weibo account, asking for verification. Chinese netizens were quick to correct the mistake and point out that the characters for the country's name were used earlier on a bronze piece called Hezun, which was unearthed in Northwest China's Shaanxi province in 1963.

But again there were no detailed figures.