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Ant Group, formerly known as Ant Financial, is best known as the parent company of the Alipay mobile wallet. Alipay and its local wallet partners served more than 1.2 billion users worldwide by June 2019, the company said in October.

Ant Financial Services Group announced on Wednesday that it will allow third-party financial institutions to set up virtual shops through an indigenous app, another push to vie for supremacy in the country's booming online financial sector.

Another survey released at Gitex showed that 80 percent of Chief Information Security Officers (CISO) worldwide said IoT will cause "significant" or "some" changes to their practices and requirements.

Another potential risk point comes from the foreign exchange market, analysts said.

Apart from Johnson & Johnson, other leading multinational pharmaceutical firms have also been stepping up utilization of Chinese innovation and R&D resources through cooperation with local innovation forces, and establishing innovation hubs.