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"But unlike mobile applications sectors where a price war will squeeze out many startups, the smart speaker industry will always have room for players with core technologies," Li said.

"China now imports around 10 million tons of steel products annually from other countries, and a large proportion of these imports belong to the special steel sector," said Ma Li, chief researcher at the Lange Steel Information Research Center.

"China is a great country — as much a big power in politics and economics as in sports," said Herve Piccirillo, president of International Military Sports Council, the main organizer of the Games. He added that China as host demonstrates the country's commitment to world peace and its aim to spread friendship and unity.

"China has already offered more market access to Indian companies, from IT and services to pharmaceuticals to Bollywood films," said Sang Baichuan, director of the Institute of International Business at the University of International Business and Economics in Beijing.

"Certain fees must be eliminated and for those that are retained, it should be clearly explained why they are being collected," he added.