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Analysts said the Huawei move is part of the tech giant's broader push to quickly commercialize the superfast technology and it highlights the stiff competition as companies scramble to offer the cutting-edge gadgets.

Anbang, known for a string of high-profile overseas acquisitions, including its purchase of New York's famed Waldorf Astoria hotel, has been investigated by the regulator since last June.

And there’s yet another twist: That other retailing giant, Walmart, has its own plans for airship warehouses.

And the capital market also favored the sector. A recent report from Equal Ocean showed that in 2018, China's medical startups attracted a total investment of .7 billion, taking up 7.14 percent of global investment. The figure doubled to .5 billion in 2019, accounting for 11.61 percent of global investment.

And Alibaba, with its global Tmall and Taobao shopping platforms, and competitors Tencent and JD, keep those online shoppers occupied with exponential product offerings.