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"China is determined to make 5G a top priority on its national agenda, striving to take a leadership role in the global landscape. It is also pressing for participation in the formulation of the international 5G standard to make China one of the main players."

"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."

"By providing a greater range of offerings at various prices, landlords in the CBD are cleverly diversifying to target the broader CBD community," said Yang Jingjing, director of the retail leasing department at Jones Lang LaSalle, an international real estate service and investment management company.

"CIIE is a significant move to support free trade," said Ren Hongbin, chairman of Sinomach.

"China offers many lessons for Africa's development agenda. Beijing's legendary poverty reduction and social safety net that has seen China lift more than 740 million people out of extreme poverty is an enviable example that Africa should emulate," he said.