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"Chinese companies may know their longtime trading partners based in the United States, Japan or Europe, but today we need to deal with emerging business opportunities in more than 60 economies with varying conditions," said Zhang Xuqing, assistant general manager of the international business division at China CITIC Bank.

"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.

"Chinese officials have to be talented because they have to go through a rigorous examination system, but the salaries offered in the private sector, particularly in areas such as finance, might be double or triple (those in government). So one area to look at in China is to fast-track top talent and give people higher salaries."

"Currently in China, AI is transforming traditional industries. However, the process has faced huge bottlenecks due to the lack of talents in the country," said Kaifu-Lee, chairman and CEO of Sinovation Ventures, the initiator of DeeCamp.

"Cross-border telecommunication infrastructure is one of the first steps for international cooperation," he said.