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Domestic manufacturers may have to resort to mergers and acquisitions to stay competitive as the country opens up its automotive sector to the wider world, according to the chairman of a major State-owned carmaker in China.

Dinesh Paliwal, president and CEO of Harman International Industries Inc, counts "delivering the best" as a key business principle.

Does this apply to all websites and sales online?

Dobbs, who turns 70 in mid-November, added: "What I find difficult is people in the West who go around the world proclaiming that there is only one system, and it's 'our' system."

Ding Wenwu, president of China Integrated Circuit Industry Investment Fund Co Ltd, said currently, money is flowing into the chip design segment, which has a lower technological threshold and quick investment returns, but more efforts are needed to bankroll the chip material, equipment and manufacturing segments.