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"During recent bidding for the core network launched by China Mobile, about 44 percent of the market share went to Ericsson and Nokia, while we got a little over 50 percent. The West is most concerned about the core network when it comes to cyber security. China is open in this area, so it allows western companies to have such a large market share in the core network. This also shows that China trusts them," Ren said according to a transcript made available by Huawei.

"Despite the fast development of 5G, its commercialized progress has entered a crucial phase where telecom carriers are faced with an array of challenges," said Li Zhengmao, vice-president of China Mobile.

"Enterprises will have to scale back production of highly polluted products to meet emission standards, otherwise they will be shut down."

"Electrification, intelligent connected vehicles, the sharing economy mode and internationalization will be the trend of the automotive industry," said Chen Hong, president of Shanghai-based SAIC Motor Corp Ltd and also a deputy to the 13th National People's Congress.

"Exchange rate flexibility should facilitate adjustment to the new external environment," he added. "Greater exchange rate flexibility and better-functioning foreign exchange markets will help the financial system prepare for more volatile capital flows."