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"China's semiconductor display industry has taken large steps forward in the past decade, changing the display industry's global competitive landscape. China has transformed into the world's largest consumer market and manufacturing base for display terminals, with huge market potential," said BOE Vice-President Zhang Yu.

"Chinese startups had two teachers as they were learning what happened in both China and the US, while most Americans just turned inward and stuck to the US alone, thus having only one teacher," Lee said.

"Clouds are on the horizon" for California especially if the trade war intensifies, said Jim Doti, chair of business and economics at Chapman University.

"China will keep improving the market-oriented foreign exchange regime and maintain flexibility of the yuan exchange rate, generally at a reasonable and stable equilibrium this year," said Wang Chunying, spokeswoman of the State Administration of Foreign Exchange, the country's foreign exchange regulator.

"Chinese culture is different to that in the rest of the world, especially the European Union. In China, people work harder and are more willing to experiment by trial and error, while Europeans work in a more structured way. By the time people in the EU have come up with a structured plan, the Chinese have already developed a solution," he said.