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"But there is still a question of whether such regulations can be successfully implemented, especially in some privately owned companies," said Professor Qiu Zeqi, director of the Center for Sociological Research and Development Studies of Peking University.

"China has become the largest trade partner for 25 of these countries," he said at a press conference.

"China has shown demonstrable commitment and willingness in collaborating on COVID-19 related research, vaccine development, and medical equipment provision, encouraging openness and data sharing to help ensure diagnostics, vaccines and prevention measures are developed rapidly for the benefit of every nation," he said.

"China Mobile has made a bigger investment in 5G tests and experiments, compared with its rivals, including China Unicom and China Telecom. Moreover, China is in the forefront of 5G technology around the world, possessing a right of speech in the establishment of 5G international standards," said Fu Liang, an independent telecom analyst.

"Capable people are in high demand and so is pay. However, the situation is different from that in the 1990s. At that time, you couldn't find people with real management experience in private companies. Now, you can find capable leaders with enough energy and the drive to do things. With the economic boom in China, every company is competing for talents."