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"Fortunately, data tariffs are priced attractively against 4G, complete with tiering by speed for different user needs," IDC said, adding that it expects a significant amount of industry momentum to drive volumes in 2020.

"For investors, they care more about the future direction. On a broader scale, only changes in policy will bring about more room for growth and new opportunities," said Ji Liyin, vice-investment president of Founder H Fund.

"From the year-on-year growth data, the first-tier cities are entering the replenishment phase with the inventory continuing to grow on a year-on-year basis from June after 34 consecutive months of year-on-year decline. And although in second-, third- and fourth-tier cities the inventory continued to fall, the decline continued to narrow," Yan said.

"Foreign investors will now be able to compete on the same terms as China's domestic companies," he said, adding that a number of key sectors have gone through significant liberalization for foreign direct investment, such as automobile, finance and insurance.

"For governments around the world, the challenge is to maximize the benefits from these technologies, including continuing to invest heavily in the development of world-class AI skills, while mitigating the costs to displaced workers through retraining programs and a stronger social safety net, funded from the proceeds of increased economic growth. Only in this way can the potential benefits from AI and related technologies be spread as widely as possible across society." Hawksworth said.