Oishi, the snack-food giant from the Philippines, has come to value China as a center of new technology to spur further growth in its business, as the market has become an ever more sophisticated and international one.

However, Larry Chan, head of China operations for Liwayway Group, the company behind Oishi snacks, said he still sees a sense of hesitance and caution among Filipino entrepreneurs when it comes to investing in China, despite the potential in the market.

"I think people are very interested. They know China is their opportunity, but they are also very careful," Chan told China Daily on Wednesday.