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"Going forward, we expect to see more IoT applications in various fields. Right now we see that already happening in transportation, security, and environmental protection," said Wang.

"For such reasons, our AI product is very likely to be launched in China first, although in the past new medicines or healthcare products often got approved and launched in the US first."

"Following the fires, these drinking water catchments are now in a very unstable condition and highly prone to erosion of topsoil," said Khan.

"Foreign customers have been postponing their reception of shipments, while Customs and ports in European countries and Japan have been placed on effective lockdown. This has resulted in a large stockpile of our goods and semifinished products, and severe payment delays," Ma said.

"Given the rising external uncertainties and the possibility of escalating tensions with the US, structural reforms to broaden the home market and boost domestic demand will help China offset some negative impact from a deteriorating external environment and shrinking external demand," Zhang Ming, an economist at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said in a research note.