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"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 has always made a big play about wanting to do international collaboration," Harvey said.

"CTT has grown rapidly over the last several years, and we're looking forward to being able to continue executing on our growth plan and sharpening our commercialization focus within the consumer electronics, automotive, and industrial markets," said Church.

"But the new policy will not easily attract foreign workers, particularly those high skilled ones, due to stagnating salaries, language barriers, a closed atmosphere and uncertainty over future growth," he said.

"By the end of the year, we are likely to open tenders for the aero engine, and Rolls-Royce and General Electric are expected to join the bid. We are also trying to develop engines ourselves together with Russia."