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Analysts from Essence Securities said 5G and telecom stocks will continue rebounding after the positive outcome of the ZTE incident.

Analysts suggested more mergers and acquisitions are going to take place in the sector in the coming three to five years.

And the council so far has handled 582 of complaints, up 1.25 times from the same period of the previous year, according to a statement released by the council on Wednesday.

Analyst Xiong Ran said that some service providers and platforms failed to abide by the non-disclosure agreement in user protocols and sold users' information to others, while some users ignored ways to protect their information.

Andrew Williams, head of the food and drink sector at commercial banking company Santander UK, said such efforts are crucial in an industry that is exposed to the effects of the UK's pending exit from the European Union.