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"Conventional carmakers have technology strengths in some perspectives, but won't strive to push as hard as the new comers," Shen said.

"Coordination and integration between cities remain the key words of developing metropolitan areas," said Zhang Yansheng, chief research fellow at the China Center for International Economic Exchanges. Shenzhen, the most innovative region in the Greater Bay Area, may join hands with Hong Kong, which boasts top universities, capital markets and a modern service industry. Zhang suggested Guangzhou, as a city of trade and service, could also coordinate with Foshan, which boasts a high-quality traditional manufacturing industry.

"Consumer demand of the 1.4 billion population is changing, and the Chinese people need more imported goods to meet their demands, which means a huge potential for growth," said Victor Gao, vice-president of the Center for China and Globalization.

"Creating a new chilled milk brand for Chinese consumers will enable them to upgrade their dairy consumption," said the statement, without elaborating on the details of the new product or the brand, nor the size of the investment.

"China's situation is extraordinarily important, because the measures they have applied - mainly measures of public health, community awareness and controlling contact - are working," said Manalich.