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"China deems breaking through key technology as a significant strategy. So far, Chinese enterprises have solved some problems in key components," the report said.

"Cats have a reputation for keeping some agricultural pests, such as rodents and rabbits, in check, but there is no evidence that they are effective at this task," Taggart said.

"But the 0 billion valuation is undoubtedly too high even by the standards of Chinese companies' high price-to-earnings ratio. Xiaomi's market performance can by no means support that," Shen said. "Something between to 0 billion is more likely."

"China is a big place, and adding (China) capability seems to be the opposite of creating a more focused business. To deliver service is such a huge country a non-indigenous telco needs boots on the ground which both their existing partners can provide but BT by itself will be unable to do this for quite some time."

"China is at the core of our strategy for future growth and our commitment in China is strong," Galjee told a media briefing during the eighth Clean Energy Ministerial in Beijing, the annual meeting of energy ministers and other high-level delegates from 24 member countries and the European Union.