"Like many domestic and foreign companies that have benefited from the continuously improving business environment in China, we are increasing our investments, expanding our presence and growing our list of partners in the country."

He further said China has attached great importance to the development of its digital economy and positioned this as a national strategy, which promises even greater growth potential for the whole mobile ecosystem.

According to Meng, the company will continue to support China's ecosystem in wireless communication, smart devices, internet of things, artificial intelligence and the automotive sector through a series of programs like the"5G Pioneer Initiative "and "5G IoT Innovation Initiative".

US tech heavyweight Microsoft Corp is also eyeing the Chinese market for long-term growth potential as a unified domestic market promises better business environment.

Hou Yang, chairman and CEO of Microsoft Greater China, said in an earlier written interview, "We are particularly interested in China's integration of domestic and international trade, which aligns well with Microsoft's strategic aims to assist more domestic enterprises to extend business overseas and for foreign enterprises to extend their businesses in China."

In March, Microsoft unveiled a new data center region in North China, the biggest one it has in the Chinese market so far, which highlighted its long-term commitment to the market. The move also meant that Microsoft's cloud computing capacity in China, the world's fastest-growing public cloud market, has been boosted twelvefold since 2014.

"This year, China will continue to be an engine driving global recovery, and technology innovation will certainly play a critical role, accelerating the development and spread of China's digital economy and providing significant opportunities for technology companies such as Microsoft to contribute," Hou said.

Fang Ying, president of Ericsson China, said the Swedish company, which has been in the Chinese market for 130 years, is always optimistic about the prospects of the Chinese market and is willing to make long-term investment for long-term returns. In the past five years alone, Ericsson's total investment in research and development in China has exceeded 15 billion yuan ($2.22 billion).

"Ericsson will continue its commitment to the China market and actively participate in the construction of digital economy and sustainable development in China with advanced technology, global resources and successful practices," Fang said.