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China had more than 230 million people aged 60 or above at the end of 2016, 16.7 percent of the total population, according to the Ministry of Civil Affairs. The country's elderly will account for about one-quarter of the population by 2030.

China has been growing as a tech leader in fields such as telecommunications, space exploration, artificial intelligence, machine learning, robotics, genetics and material science as a result of not only initiating innovations, but also protecting them, said Professor Alan Barrell, director of studies at Cambridge Innovation Academy.

China has been the world's largest automotive market for the past 10 years in 2018, manufacturing 27.81 million vehicles and selling 28.08 million units nationwide, according to the China Association of Automobile Manufacturers.

China has been the company's biggest customer and Rio Tinto generates more than 44 percent of its global revenue from the country, supplying lots of products including copper and iron ore for steel, and bauxite for aluminum and diamonds, said Jacques, head of the world's second-biggest mining company.

China has become a pioneer in developing and applying the latest mobility technologies thanks to the country's huge market demand and efficient implementation, he said.