While there is a lot of cheap crap coming out of China, they are also very capable of producing high quality highly technical equipment. I watched some videos years ago on manufacturing companies that use CNC machines and welders and have in-house design and engineering staff. You can come in with an idea and they will do everything from the engineering and prototyping to full on production, and in an amazingly small amount of time.
Jay Iyagi recently released a video on audio equipment production in China. It's not highly technical but you can see that these are modern, well equipped companies using the latest technologies in electronics manufacturing.