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And the latest campaign against Chinese goods might not necessarily stem from the simmering border row between the two countries, because similar attempts to "play the economy card" and arouse nationalistic sentiment have appeared when regional elections approach. It is not likely to go far in pushing for a "complete ban" on Chinese imports, and the Narendra Modi administration is yet to make concrete moves to endorse the boycott.

Andritz has over 200 employees in China engaged in research and new products design. They completed 155 research projects and obtained 34 patents over the past three years. The company co-developed a new system for garbage disposal and recycling with a local Guangdong company.

And after a long migration, the Derung ancestors moved to the Derung River basin in northwestern Yunnan.

Analysts said Allianz's plans in China highlighted the regulator's desire to further open the domestic market to foreign players and it could mean that foreign insurance companies could enter the Chinese market by establishing wholly-owned local units in the future.

Analysts and business communities see the 55-billion ringgit ( billion) mega project as a new spur to the region's economy.