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But on the other hand, the value of the M&A cases jumped 22 percent year-on-year in Asia, which can be largely attributed to the BRI. Australia became the top M&A destination during the first half of this year, with the total deal value amounting to .8 billion. Its advanced technology and well-established elderly healthcare system are much favored by the Chinese investors, explained Chen.

But carmakers cannot afford to skip China's annual event, alternating between Beijing and Shanghai, as it showcases the latest tech and trends in the world's largest vehicle market, which experts view as a leader in electric and self-driving cars, said Stefan Bratzel, head of the Centre of Automotive Management think-tank near Cologne. A spokesman for VW's French operations said other Volkswagen brands including Audi, sports car maker Porsche, Czech division Skoda and Spanish unit Seat are still due to attend Paris.

But Instacart has actually been one of the beneficiaries of the deal. Instacart?raised 0 million earlier this year to double its staff and expand its footprint across North America. It now has partnerships with many of the nation’s top grocers:?Albertsons, Kroger, Publix, Ahold, H-E-B, and Sam’s Club.

But similar to BMW, Mercedes-Benz and Audi recorded solid growth in China at the beginning of the year despite declines in other markets.

But Fannin said the venture capital market in Los Angeles is still small compared to Silicon Valley, which focuses more on core technology, such as hardware and software. Los Angeles is more about content, made possible by its powerful Hollywood community.