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He believed that under the Belt and Road Initiative more infrastructure companies would seek a listing in Hong Kong.

He noted that the private sector is the growth engine in most economies, and thus it should be encouraged to play a more important role in cooperation between China and Africa.

He immediately retracted the comment and apologized, but Abe's face reportedly froze.

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He noted that the current policy of the country is to encourage banks to lower financing costs of the real economy by pursuing less profits in the short run. Surrendering part of the bank profits will certainly affect the short-term profitability of banks. The decline in banks' net interest margins showed that the policy prompting Chinese financial institutions to better serve the real economy is taking effect.

He called for all-out efforts to protect the Yangtze River, saying there should be no large-scale development of the river.

He made the announcement during the seventh China-CEEC Economic and Trade Forum, which attracted more than 1,000 businesspeople to Hungary's capital, Budapest.

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He is a staunch supporter of the Bangsamoro Basic Law that will establish a new autonomous political entity known as the Bangsamoro Autonomous Region, to replace the current ARMM (Autonomous Region in Muslim Mindanao).

He believes the Belt and Road Initiative presents an opportunity for Australia to attract Chinese investment into developing key infrastructure projects in Australia, especially in northern Australia. It is also of great significance to the world economy and, to the extent it can contribute to lowering transport costs globally, it will contribute to the growth of international trade and investment, Raby said.

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He might also have been struck by a 759-kilometer modern railway linking Addis to neighboring Djibouti that began commercial operations on Jan 1 this year. More than 95 percent of the trade of landlocked Ethiopia passes through Djibouti.

He organized themed aviation tours in early 2000 with his American friend Larry Jobe, a retired pilot with United Airlines, and the tour features visiting some of the Flying Tigers' heritage airfields.