Li said Jaguar Land Rover was in the process of ramping up its R&D investment in the country, building a local team to develop new products.

"The auto industry is facing unprecedented challenges, because of digital technology and global IT enterprises, such as Google, Baidu and Huawei," Li said.

"These companies have changed the manufacturing methods and created new consumer demand."

Li said rapid evolution toward the driverless car and the arrival of car sharing were examples. Auto producers are moving toward the concept of being personal mobility providers rather than merely manufacturers, as they grapple with wider trends in modern motoring.

"Jaguar Land Rover will also invest in sharing vehicles in the future," Li said.

Meanwhile, Yang Lili, vice-president of Signify Greater China, said that her company had changed its name from Philips Lighting because of the group's strategic adjustments to developments in the wider marketplace.

"The LED industry in China is developing rapidly and it currently has a 50 percent market share of the industry worldwide," Yang said.

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