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Breyer said whether one is investing in China or the US, understanding ecosystems at a detailed level is the key and it will allow Breyer Capital and its partners at IDG to continue generate outstanding returns over a long period of time.

Buildings which use the centralized system, rather than relying entirely on their own air conditioners, have reduced energy consumption by around 40 percent, said Foo Yang Kwang, chief engineer of Singapore District Cooling, SP Group, which is behind the project.

Both sides hope to push forward relations onto a long-term and healthy development path, according to a press release from the Chinese delegation.

Brand is the decisive factor for Chinese firms, followed by safety, price, design and other factors.

Brought into being by angels in 2013, VIPkid has since received financial backing of noted investors such as Sinovation Ventures, Matrix Partners China, Sequoia Capital, Tencent, Yunfeng Capital and Bryant Stibel.