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"Cheap and abundant labor is the most often-mentioned comparative advantage of developing countries. However, this has not been the only reason for the robust development of China over the past four decades," said Fan, also chairman of the China Development Institute.

"CIIE is a great opportunity for the company to demonstrate our technology leadership to a broader audience," said Su Hua, president of Infineon Technologies China. Infineon is a semiconductor company based in Germany.

"China is our second largest market worldwide," said Gilbert Ghostine, Firmenich CEO, adding that he expects the factory in Zhangjiagang to play a central role in the company's growth.

"China has always firmly opposed unilateralism and protectionism, and stood up for the authority and efficacy of the multilateral trading system," said Wang.

"But some really regret their decision when they get on the swing," said Zhao Zhidan, the project manager.