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"Companies can put the money saved into research and development or use it to tap into new markets," Xu said.

"China still has plenty of potential sources of domestic growth－consumption for instance－and it can now cultivate these further. That means it will be able to face the current issues with more flexibility and readiness than others, although the question is whether this will be sustainable."

"Currently, we have helped establish five treatment centers with government agencies and local partners," Wong said.

"Collaboration is of mutual benefit to our company and the academic world," Gao said. "We offer business insight and data, while the schools provide cutting-edge research and expertise.

"Core technologies cannot be bought," Guan said.