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But the biggest challenge still lies in localization. The European smartphone market differs considerably from Southeast Asian markets, where the company had already established itself as a competitive brand loved by young consumers.

But young people in the village, including Shi's son, migrated to work in cities, and Shi was left alone. To liven up his retirement, he grew corn and used his shoulder pole to carry it to town to earn pocket money.

But to capture that growth momentum, brands need to extend their product life cycle to serve infants and young mothers, said Jason Yu, general manager of Kantar Worldpanel in China.

By 2050, the global population of people over 60 will surpass 2 billion, Baruch said. "This has enormous implications for China and Israel" and will create great opportunities in medical care and the development of medical devices and patient-care models, he added.

But the value of Chilean wines China imported reached 4 million, up 4.5 percent over 2017.