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"Competition between countries is intensifying in strategic emerging industries such as semiconductors, telecommunications and supercomputers. Whoever seizes the market opportunity will have the first-mover advantage and gain large-scale profits," said Guo from the CASTD.

"Colleges all around the country are our main customers who are required since 2016 by the Ministry of Education to provide EE courses," said Xu.

"Citi China's FMDB license is a piece of welcoming news for many of our QFII and RQFII clients," said Harry Peng, managing director and head of prime, futures and securities services for Citi China. "We are in a unique position – as the only American bank who can offer a complete solution to international investors to invest into China, whether it's equity or fixed income, directly (QFII, RQFII and CIBM direct scheme) or via Hong Kong (Stock Connect and Bond Connect), end to end, from sales, trading, research to custody, clearing and settlement. We have the full licenses and capabilities in China on the ground."

"China's steel and iron sector has been experiencing a sluggish market this year. Producers should step up efforts to reduce costs and seek new revenues," Wang of the Lange Steel Research Center said.

"Compared with companies from other countries, Israeli companies are technology-driven and focus on hard tech. It is a perfect business model to combine such hard tech with our country's user-driven business," said Peng.