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"China has the best resources in frequency spectrum and base stations. Local consumers and enterprises have some of the highest enthusiasm and willingness to embrace 5G. And the governments have rolled out favorable policies," Xu said at the ongoing 2019 World 5G Convention.

"China is opening up faster than most people believe or think," Henry Fernandez, MSCI's chief executive officer, said on Thursday. "We do not see any regression on that. If anything, we see a speeding up."

"China is determined to make 5G a top priority on its national agenda, striving to take a leadership role in the global landscape," said Steve Lo, the managing partner of EY's greater China Technology, Media & Telecommunications division. "It is also pressing for participation in the formulation of the international 5G standard to make China one of the main players."

"China deeply regrets US withdrawal from the INF Treaty. China firmly opposes US attempts to deploy intermediate-range missiles in the Asia-Pacific region," Fu added.

"But the 0 billion valuation is undoubtedly too high even by the standards of Chinese companies' high price-to-earnings ratio. Xiaomi's market performance can by no means support that," Shen said. "Something between to 0 billion is more likely."