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"Compared with large State-owned commercial banks and national joint-stock commercial lenders, city and rural commercial banks, also known as small and medium-sized banks, are weaker in terms of the capital adequacy ratio. They also demonstrated significant regional differences in their interim results. Some of them are financially stable, whereas some are facing major risk exposures," said Michael Hu, PwC China financial services partner.

"China sticks to transparent, equal and fair principles when purchasing 5G telecom equipment. We never preset market shares for domestic and foreign enterprises," Miao said.

"Consumers and organizational users need to be wary of using cameras, as hackers can easily access and control the cameras on public networks due to insufficient security measures," said Zhao Wu, chief executive officer at Beijing Huashunxinan Technology Co Ltd. "On the one hand, a wide range of inexpensive cameras and monitors lack necessary security measures. On the other hand, with the rising number of internet-enabled devices, it is really difficult to update the hardware."

"China remains one of the major markets for Ingka," said Stéphan Deville, president of Ingka Group Real Estate (China).

"China will keep its commitments," said Chua, who was attending the forum as a member of the Philippine business delegation.