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"China is becoming one of the largest consumer markets in the world, and this huge consumer market is still opening up. On the one hand, China's tax cuts on imported consumer goods are increasing, on the other hand, China's policy continues to encourage cross-border import e-commerce and other new forms of business," Gao Hongbing, president of AliResearch, said.

"China is expected to issue temporary 5G licenses this year," said Miao Wei, minister of industry and information technology, at the ongoing Boao Forum for Asia, without disclosing a detailed date.

"China has witnessed the rise of social media, e-commerce and online to offline platforms in recent years, which has spurred an increasing demand for designing from domestic companies and private users," said Zhang Yuan, CEO of Canva China.

"China has a huge domestic 5G market and its efforts to accelerate construction of a nationwide network will bring opportunities to Huawei," Wang said.

"China has made positive progress in economic restructuring, transition of growth drivers, and the battle against major financial risks," said Zhao Huan, president of Agricultural Bank of China, at a news conference on Tuesday.