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Dow Chemical, the world's second-largest chemical company, is banking on product innovation to better cater to demand from Chinese customers and further expand its presence in the country.

Dong Min, general manager at consultancy All View Cloud, or AVC, in Beijing, stressed that manufacturing and content companies in the industry are starting to march to the same tune.

Dongfeng produces Citroen and Peugeot cars. In China, the engine is used in small cars such as the Peugeot 2008, 308 and 408, and the Citroen C3-XR and C4L.

Dozens of companies, including Siemens AG, Fosun International Ltd, China Gas Group, ByteDance Co Ltd and Xiaomi Group, signed agreements with the district governments in the city during an investment promotion conference for setting up global headquarters, manufacturing bases, data centers and research and development laboratories.

Dong Yan, a researcher at the Chinese Academy of Social Sciences' Institute of World Economics and Politics, said: "Facing uncertainties, China needs to continue on its set course of reform and opening-up. That can help speed up the country's pace to achieve high-quality growth."