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"China is perhaps better positioned now than ever before to become a globally competitive player in both semiconductors and AI ... because leading digital businesses (in China) have signaled that greater domestic self-supply of semiconductors is a vital component of their future," he said.

"By announcing some preferential policies, the government is now encouraging people to have a second child, but it will take time to see the results.

"China has recovered from the pandemic in an exceptional manner. We have seen the quick recovery of the Chinese economy and the construction industry that Caterpillar serves. In our segment, the Asia-Pacific region has remained largely positive in the third quarter, driven by the continued strong demand in China," said Chen Qihua, vice-president of China operations at Caterpillar.

"China is a strategic partner, more than that, a great complement for our state," Luis Parrales, the consortium's supervisor overseeing the airport's reconstruction, told Xinhua.

"China is at the forefront of cutting-edge technologies, especially artificial intelligence (AI) and other technologies and also the implementation of digital technologies in all walks of life, in transportation, machines, robotics and everything," Vardi, chairman of International Technologies, told Xinhua during the World Economic Forum (WEF) annual meeting here on Wednesday.