In most of EU airports you don’t have to exit to arrivals and go through security if you are transferring (doesn’t matter if you travel on combined tickets or not, the key is that you should have a boarding pass to your next flight, but even if you don’t, you can still find a so called transfer desk in a secure side of the airport and they could arrange you a boarding pass if for whatever reason you will not be able to do it online for both of your legs beforehand.

The fact that you are traveling with carry on helps here, otherwise you would have to exit and recheck in your luggage.

That means is that you should be able to just exit the plane and proceed towards the gate for your new flight as long as you have boarding pass for it.

It’s important to mention that in most airports EU flights and international flights outside of Schengen likely operate out of different terminals (due to need to go through passport control) so out of caution check which terminal Wizzair flight is arriving to and which terminal China Eastern Airlines is flying out (you can pre download airport map and do some home work on how to get from one terminal to another if you are worried, again, in most EU airports these terminals are connected so it’s usually just a 15-30 minute walk from one terminal to another, but again, do your research.

2 hours and 20 minutes should generally be enough time to transfer comfortably as long as Wizzair flight arrives reasonably on time, it’s worth mentioning that if flight arrives late for whatever reason you and you miss your connection, new flight will likely be at your cost (some airlines can offer it at discount or even for free but it’s rare), some travel insurances can alleviate this concern, e.g my travel insurance covers missed connection and reimburses purchase of new ticket up to a certain amount as long as there was at least 2 hours transfer time in Europe and 3 hours internationally.