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"China is an important market for many companies and they will likely want to maintain a presence there," said Khatiwada.

"China has the best resources in frequency spectrum and base stations. Local consumers and enterprises have some of the highest enthusiasm and willingness to embrace 5G. And the governments have rolled out favorable policies," Xu said at the ongoing 2019 World 5G Convention.

"But when it came to a stop and we looked around and everyone was all right, everyone was pretty calm," Epstein said. "It was quite a ride."

"China is deeply impressed with the development of the ASEAN countries during these 50 years and firmly supports the establishment of the China-ASEAN community," Jiang Jianguo, minister of the State Council Information Office of China, said in a keynote speech at the meeting.

"By and large, Chinese regulators are pro-innovation," said Chen Guoli, a professor of strategy at the INSEAD business school in Singapore.