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"China has a rich pedigree of bringing innovations to the world. It has also established itself as the global manufacturing center, with an in-built ambition to be the world leader in many technological breakthroughs," said New.

"But the trend to innovate and apply 5G in a wide range of industries will motivate them to move fast," Wang said.

"China has been one of the big funders of mining globally, including in Canada," he said. "If you look around the world, in the past few years, the real two big funders were China and private equity, while the traditional financiers' commercial banks were out of the market, so China was seen as a big source of alternative finance."

"China is a strategically relevant market for the development and application of fuel cells," said Wang Weiliang, regional president of Bosch Powertrain Solutions China.

"China may do nothing," he added. "We need to wait until something actually happens."