Contrary to some of the more gruesome headlines, Chen Liang's small company, which specializes in magnetic materials, is doing rather well. Orders are still coming in and profits swelling, he said.

But when it comes to the future, there's a problem, says Chen, general manager of Dongguan Jinconn New Material Holdings Company in South China's Guangdong Province.

The company is coming under heavy pressure from foreign competitors and needs funding to upgrade and expand. "We're doing OK now, but to survive, we need to change. We need better products and that means better technologies, better equipment and more skilled workers," Chen told the Global Times on March 7. "But that costs a lot of money."

Companies like Chen's are at the center of the Chinese government's master plan unveiled during the two sessions to rekindle growth in the world's second largest economy.