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"China Mobile will launch 5G smartphones in the first half of 2019, as part of the push for 5G precommercial trials in 2019 and commercialization by 2020," said Li Huidi, vice-president of the major telecommunication carrier.

"China is ahead of the rest of the world in terms of application innovations in many sectors, including financial, retailing and e-commerce," said Sanjay Poonen, chief operating officer of VMware, in an interview with China Daily.

"China experienced very rapid productivity growth, at least until recently, as pragmatic, progrowth policies helped deploy its abundant capital and labor more productively, and this included rebalancing of State and market forces in resource allocation," he said.

"China is an important factor," said Suan, adding that China's performance will be particularly important for the ASEAN region. "If China shuts down, we will be unable to get our goods or the needed inputs from China. Now China is back on its feet, so that should be able to help us get through this challenging period."

"China and the US, the two major countries, bear special duties in this regard," he said.