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"Coca-Cola has been trying to diversify its product portfolio to meet the new consumer demand while in the past it wasn't able to tap into the growth of the dairy sector, which is booming," Yu said.

"China's strategy of opening-up to our industry and opening-up to innovation will benefit Chinese patients and also enable companies like us to keep investing in China."

"China's economy is very positive in general. The dividends from reform are huge and yet to be fully realized," he said during the sideline of the 2017 Annual Meeting of New Champions, also known as Summer Davos, in Dalian.

"Currently there are still gaps in the perception of products, between consumers on one side and producers on the other. We have many products that reflect the culture, the creativity of the maker, and this is not necessarily understood in China. We need to do more to promote a better mutual understanding among citizens, aside from strengthening economic ties," Ferro said.

"Chinese style and Western style are just different cooking methods. The key is the taste, and the five senses are the same for everyone.