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"Consumers are becoming more selective about the products they purchase, and tend to buy products that have more practical uses," said Emily Cheng, general manager of Honeywell Connected Living Solutions China.

"China, especially center areas in the first-tier cities, has now slowed down its development and construction in the real estate industry," said Gu Jianping, chairman and managing director of Shanghai Tower Construction and Development Co Ltd, "a more serious consideration is how to effectively manage the current assets in this field."

"Chinese consumers in particular welcome new technology and are very open to trying the new and the best," Tsien said.

"China started operating its first maglev railway more than a decade ago but has since concentrated on conventional high-speed rail because it was hindered by many critical technologies at that time," said Sun Zhang, a railway expert and engineering professor at Shanghai Tongji University.

"Co-branding is just the first step for sustainable development of Chinese toy companies and it's more important to have their own brands in international market, "said Tong.