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Li said that the financing should be expanded. China supports the financing of cooperative projects by commercial financial institutions and supports enterprises from CEE nations issuing panda bonds in China, he said. A panda bond is a renminbi-denominated bond from a non-Chinese issuer. He said renminbi financing will be supported for cooperative projects.

Li works at the Zhundong oilfield in the Junggar Basin, which since 2015 has been developing a range of industrial equipment to help mitigate the impact of oil drilling and processing on the surrounding environment.

Li said that as many countries are looking at measures to cut costs, increasingly intensifying international competition, China has to secure stable prospects for its enterprises and maintain competitiveness.

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Like old times - Houston

Li said President Xi Jinping met with Putin in Da Nang, Vietnam shortly after the conclusion of the 19th National Congress of the Communist Party of China. The two countries' comprehensive strategic partnership is firmly moving forward, Li said.

Li said he is willing to work together with Hun Sen to further consolidate the China-Cambodia traditional friendship, deepen pragmatic cooperation, and bring the comprehensive strategic cooperative partnership to new heights.

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Li said as competition in downstream is getting fiercer with growing new capacities, the second half will remain tough for Sinopec if it does not update its product portfolio to better meet market demand, such as increasing supplies of low sulphur fuel oil for ship use and boosting refined oil exports.

Liang studied graphic design in university but he became a freelance photographer after graduation.

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Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks when attending the event's virtual opening ceremony in Beijing.

Li made the call in an inspection tour to the city of Yinchuan, northwest China's Ningxia Hui autonomous region.