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"Certainly, it provides a great opportunity for investors to go to China and experience the dynamic and growing economy," he said.

"Caterpillar China has striven to build an integrated system for its mini excavator business, covering local R&D and manufacturing as well as the provision of components and parts," said Chen Qihua, vice-president of Caterpillar and chairman of Caterpillar China.

"China Baowu Steel is ramping up efforts to further accelerate tech research and development to make energy consumption more efficient in steel productions," Hu said.

"China can seize the newest trends in technology by attending SXSW. The event also functions as a big incubator — data show that about 10 percent of the companies at SXSW were acquired after the event. Many startups go to SXSW to look for opportunities while others go there for inspiration and ideas," Forrest said.

"China becomes more self sufficient in chipmaking and it will make it difficult for western suppliers. That's the nature of business and competition. We think it's a good thing because it forces innovation on both sides of the ocean," Bingham said.