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"Given that Lu's behavior represented bribery and the amount was huge, he should be punished in line with the law," the court said in the ruling.

"Financial support such as special funds are available for key development projects, and numerous pilot programs are also underway across the country, including the IoT industrial development clusters in the Bohai Sea Rim, the Yangtze River Delta and the Pearl River Delta regions," said Sun Fuquan, a researcher at the Beijing-based Chinese Academy of Science and Technology for Development.

"Foxconn Industrial Internet provides a one-stop development environment and Tencent Cloud, as the application operation platform, helps get applications online and supports functions such as intelligent publishing and service access, integrating app development and operations," he said. "This can help evolve the industrial platform as a service capability and accelerate Foxconn's technological capabilities used for other companies."

"Had it not made and largely abided by the commitments it gave to the WTO in 2001, it could never have become the dynamic, globally interconnected economy it is today," Armstrong added.

"For us, China is a driving force of innovation, a place of inspiration particularly in the field of electrification and digitalization－we think China is the lead market in these fields already today," said Klaus Froehlich, BMW Group Board Member, at the opening ceremony.