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"For many of our members, the (cost) of the raw material could be as much as 60 or 70 percent of the cost of the finished parts," Hardy added. "So the increase is significant."

"Having powerful, meaningful brands is incredibly important. I think the future of companies like ours is going to be linked to our ability to continue to have brands that are meaningful to consumers and connect with them emotionally," Speichert concluded.

"Government and big market players like Tencent, Alibaba, Baidu and Ping An do not just talk the talk, but they walk the walk. The major new technologies are not concepts on paper. Millions of people across the country are actually using them," Atzmon said.

"Fonterra has contributed to China's dairy industry by developing high quality farms and showing there is a valuable opportunity for fresh milk in China's consumer market. However, we don't shy away from the fact that we've invested heavily in our China farms over the past 10 years. We will consider whether we still need to have large amounts of capital tied up in the farms," Hurrell said in replying to a question from China Daily.

"Frankly, Maine people are just like Japanese society; we are getting older, we want to attract young people to come and live in Maine," he said.