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"China is betting big on the industrial IoT to increase productivity and drive efficiencies by streamlining and automating manufacturing processes via internet connectivity. Backed by positive government support, China is set to become the world's leader," said Alex Sinclair, chief technology officer of the Global System for Mobile Communications Association.

"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Woellenstein, referring to China's decision in 2018 to gradually lift the equity cap in the auto industry.

"Central banks' balance sheets are expanding extremely rapidly as they buy up large quantities of public and private assets and increase their lending to financial institutions in their efforts to counter the damaging economic impact of the coronavirus," Fitch said in a report.

"By reinforcing their moats, industry leaders will become even stronger, and the sector will present a higher competition threshold, and the market centralization will become more obvious," said Neil Wang, president of Frost & Sullivan China.

"China has further reduced restrictions on market access by foreign investors and now allows foreign investment throughout China in sectors where it was previously permitted only in pilot free trade zones," said Paul McKenzie, managing partner of Morrison & Foerster's Beijing office. "Strong headwinds will likely continue at least until the US-China trade relationship improves. Perhaps a more dramatic set of further amendments to the negative list will come out of the current trade talks," McKenzie said.