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"California exporters are attempting to find buyers in other countries to counteract the decrease in exports to China," said Sfeir.

"China plays an indispensable role in this process," Teng said.

"China has leaped into the next stage of the mobile world while a lot of transactions are done mostly on desktops among European economies," Groth said, adding that it is another area where the countries can deepen their cooperation.

"China is fast moving," he said. "It is an innovative place. And when you are making an innovative company, you want to be part of an innovative environment. It's like an ecosystem.

"China has reduced tariffs to levels it had promised before joining the WTO, and the decline exceeded the previous targets," said Wei, now vice-president of the Beijing-based China Center for International Economic Exchanges.