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And some major infrastructure projects had begun in the new area, including the construction of an intercity railway link with Beijing, which will cut the travel time between the two areas to 30 minutes from the current 80 minutes.

Angelica Anton, founding partner of Silk Ventures, said her team's China connections is one of the main attractions for member companies. Anton worked with the foreign direct investment team at the Hangzhou local government before relocating to the UK.

And the plant is still expanding as orders keep pouring in, with the number of employees expected to increase in near future.

Analysts said the three, which label themselves as premium brands, are winning over buyers from traditional ones like BMW and Audi, whose products are mainly gasoline vehicles.

Analysts said that given the Chinese leadership's strong determination and steady growth of the economy, the deleveraging was unlikely to reverse.