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"China is the third-largest pet-owning country in the world, and China's pet industry is growing rapidly," said Christoph Vetten, head of Bayer Animal Health Greater China, during the launch of its flea and tick collar product Seresto in Beijing in March.

"China is fast moving," he said. "It is an innovative place. And when you are making an innovative company, you want to be part of an innovative environment. It's like an ecosystem.

"But the gradual maturing of electric car technologies and consumers' growing desire to embrace eco-friendly cars will still give it a good momentum," Xiao said.

"China produced about 26.8 million tons of milk products last year, with dry milk products accounting for less than 30 percent. The proportion in developed countries usually stands at 70 percent," he said.

"By offering visitors the vivid technology exhibition, the WIoT-Park is expected to help popularize the IoT industry to a greater extent.