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"CITIC Capital is confident about the future growth and prospects of the business and we are actively participating in the bidding process," said a Hong Kong-based spokeswoman.

"China and the EU are each other's opportunity rather than threat, and we are bound by the community of shared future in the globalized world," Wang told reporters after meeting with visiting Netherlands Foreign Minister Stef Blok in Beijing.

"China has shown itself to be a vivid example of the benefits that can flow from the active hand of government in investment in infrastructural development," Sourabh Gupta, a senior fellow at the Washington-based Institute for China-America Studies, said in a recent interview.

"But we do believe that our action will provide a meaningful boost to the economy," said Powell. "More specifically, it will support accommodated financial conditions and avoid a tightening of financial conditions which can weigh on activity and will help boost household and business confidence."

"But we see that as an investment in the longer term. We are building our own type of intellectual property protection around it, so that we also have a sustainable profit model for the long term. I think in five to 10 years from now, bio-based will be the mainstream."