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"By exposing Cathay to healthcare and us to innovation in a global context, such an investment will be beneficial to us in the future."

"China is now a powerhouse of innovation and has a strong and complete ecosystem, including hardware, software, artificial intelligence and others," he said.

"But unlike mobile applications sectors where a price war will squeeze out many startups, the smart speaker industry will always have room for players with core technologies," Li said.

"China has 180 million people renting homes... the irregular and illegal practices by rental agencies have disrupted the market order and hurt the interests of the public," said the statement.

"China has demonstrated the endurance of its economy through the trade dispute," Zhao said, adding that disagreements in trade, technology and finance in the past have shown that countries can have trouble enduring such pressure if they don't have their own strategic advantages.