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As autumn approaches, farmers gathered a bumper harvest of grapes in Luocheng Mulao autonomous county, Guangxi Zhuang autonomous region, dubbed the hometown of the Chinese downy grape, a raw material for red wine.

As a response, State Councilor and Foreign Minister Wang Yi said earlier this month that, "Plenty of facts are proof that the BRI is not a debt trap that some countries may fall into, but an economic pie that benefits local populations. It is not a geopolitical tool but a great opportunity for shared development."

As a national demonstration zone for sensor network innovation and a forerunner of the Chinese IoT industry, the district in Wuxi generated more than 160 billion yuan (.85 billion) in business revenue from the sector in 2018, accounting for more than 60 percent of the city's total. It has become an influential hub of the industry nationwide, local officials said.

As for the Chinese market, Chen Qihua, chairman of Caterpillar China, held a "cautiously optimistic" attitude toward the industry's future development. Chen said the excavator sector is expected to remain stable this year.

As advertisers in China are looking for mobile-first environment, which echoes to what Taboola is doing, Singolda believes China can be a crucial part of Taboola's journey since the company is "so well invested in deep learning and AI."