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"Chinese companies may overlook the regulatory and compliance complications of investing in the country. These include an intricate tax regime and stringent rules around employment and data protection."

"Current indicators suggest China is especially suited for widespread adoption of autonomous vehicles," said Ting Wu, partner in McKinsey's Shanghai office and co-author of the report.

"China-Europe cooperation is crucial and important for reducing uncertainties in the current international situation and boosting the confidence of the global community," said Ruan Zongze, executive vice-president of the China Institute of International Studies.

"Chinese colleagues are like our brothers, we take care of each other," said Hosam Alghamdi, a Saudi manager of the public relations department of YASREF. "The company is more like a cultural integration rather than just business cooperation."

"Chinese carmakers are going to complete the deployment process of Industry 4.0 in less than two years, while their German counterparts took five years," Hecker said in an interview on Thursday on the sideline of the forum.