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"China has strong internet presence with well-known players such as Baidu, Alibaba and Tencent. In comparison, Singaporean companies excel in business-to-business technologies, and have good solutions in finance, transportation and logistics," Tan said on the sidelines of the ongoing 2018 Smart China Expo, one of the largest information communication technology events the Chinese government has organized.

"But the key thing is that your architecture have to be competitive," said An.

"China is the world's second-largest economy, and the way it adjusts and adapts to a world where it will have more engagement with different countries is incredibly important."

"China is expected to grow in the next quarter, as Oppo, Vivo and Huawei have launched new flagship devices with the aim of exciting the market once again," Jia said.

"China and Australia have no historical grievances and enjoy mutually beneficial cooperation," he said, adding that strengthening bilateral cooperation is in line with the fundamental interests of both countries.