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"China is already in the driver's seat with respect to the adoption of IoT technology, mainly driven by favorable government policies and fierce market competition inside the world's largest electronics manufacturing powerhouse," said Charlie Dai, principal analyst at Forrester, a business strategy and economic consultancy.

"But the country has a weak voice in industrial software, which requires long-term effort for fundamental and comprehensive research as well as hefty capital investment. We should have the determination to develop such software over years or decades," Chen said.

"By singling out China from travel bans, we are, effectively, penalizing it for openly reporting and sharing data about the epidemic. … This could diminish countries' willingness to be transparent about outbreaks and allow diseases to spread before outbreaks are uncovered, which would make everyone less safe."

"By officially introducing the world's payments giants such as PayPal to China, the People's Bank of China is hoping that domestic payment service providers will raise compliance awareness and enhance capabilities to ensure their operations fully comply with regulations through greater competition with their international counterparts. It may be more effective than simply relying on regulators and law enforcement agencies to fight against payments market irregularities," Zhao explained.

"CICO is the one and only Confucius Institute named after Peking Opera among its over 100 counterparts in the U.S.," said CICO director Chen Zuyan. "Our courses are fully integrated into the university's academic system."