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"Competition among AI companies has turned to a scramble for talent," said Liu Wanqian, CEO and founder of PlusAI, a startup specializing in autonomous driving. It boasts a road test license in California.

"Compared with traditional infrastructure investment, the new infrastructure program has a strong technology focus. For instance, 5G will revolutionize the way business and people interconnect around the world," Gibbs said, adding that the company will align its strategies to the initiative.

"Consumption is becoming one of the main pillars of China's economy," Zhang said, adding that sectors such as online retail, entertainment and manufacturers of premium consumer goods will benefit from the trend.

"Considering the environmental protection and local conditions, we decided to make tourism one of our pillar industries," said Kan Jilin, Party chief of the county.

"Consumer markets in both economic areas will grow larger and provide final demand for companies in both economies," he told Xinhua.