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"China came to Pakistan's rescue at a time when it was needed the most. And it once again proved to be an iron friend," he said.

"China is a developing country while the US is a post-industrialized country. A large part of their materials to make consumer goods and industrial products depends on imports," Zhou said, adding that tariffs will only leave the US with two choices—buying from China with a higher cost, or buying from other countries with uncertain quantity and quality.

"China is the No 1 growth market in the world, and they have been clear about their intended leadership in bringing hybrid and electric vehicles to market," said Don Walker, Magna CEO.

"China has an ambition in developing its civil aviation industry. Rolls-Royce wants to be part of that ambition and growth," Stein said in Beijing on Friday.

"By building the intelligent industrial park, we are aiming to become the industrial leader in manufacturing of new energy vehicles," said Feng.