Steinle said China is currently the third-largest market for BMW Group and is developing at a rapid pace.

"China will continue to have a noticeable impact on global markets in the years ahead," he said.

One-fifth of the world's population lives in China and the country possesses a unique culture, Steinle said.

DesignworksUSA's new studio in Shanghai will function as an inspiration hub in China, he said.

He said the goal of the studio is to strengthen BMW Group's brands through design know-how, innovative ideas and new ways of thinking.

"Moreover, the studio will offer international clients in various industries deep insight into design and development as they enter the Asian market," Steinle said.

Chinese manufacturers are strengthening their capacity to develop independent designs by working with Western joint ventures, he said. When asked if the studio would do designs for the company's Chinese joint venture BMW Brilliance Auto, he said the Shanghai Studio will contribute to the joint venture.

"As a creative hotbed in Asia, we will offer more possibilities to develop tailor-made design solutions for our growing customer base in China," Steinle concluded.