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"China is following the European countries' technological road map to develop new energy vehicles. The government's willingness to work out a timetable is further evidence of the move toward new energy vehicles," Sun said.

"By building industry clusters, provinces and municipalities along the belt can boost their competitiveness, which will optimize the industrial structure and help move industries in the regions from 'mid to low-end' to 'mid to high-end' markets in the long term," said Wu Qi, from the commercial bank research center at Hengfeng Bank Research Institute.

"But the government should put forward specific measures to avoid increasing the burdens of private companies, especially those small and medium-sized ones.

"China is building an open economy. We welcome European countries to seize the opportunities to scale up investment in China and explore this huge market of 1.4 billion people," he said.

"Chengdu in China is doing very well, because they have become a smart city and they want to use this smart city concept as their brand to attract customers," Terzibasoglu said. "This has helped to capture more visitors, the initiatives that Chengdu has are amazing."