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"China should maintain equilibrium in indicators of growth, employment, prices and international balance of payments," Yang said. "Industrial modernization should be promoted, with intelligent production and core technology."

"Compared to the demands of application scenarios for AI algorithms, the supply is less than 1 percent," Yin said. That is especially the case when it comes to facial recognition technology's application industries such as transportation and finance, which have stringent demands for precision, security and safety.

"China will continue to outshine others at a time when the developed countries are expected to remain mired in economic stagnation," said Justin Yifu Lin, former World Bank chief economist, at the forum, adding that China's economy will remain robust and serve as the world's economic engine.

"China was the first country to fully recover," said Molnar. "That has a very big importance for the world because it means the second biggest economy in the world has recovered. This means a huge source of demand for all the other countries."

"China's demand for IDCs will see a rapid rise as the country expedites the use of 5G and internet of things technologies. We expect the market volume of China's IDC industry to grow around 30 percent year-on-year from 2019 to 2020, hitting 200 billion yuan (.5 billion) in 2020," Wang said.