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Chinese authorities have explored funding infrastructure and public works through PPP models since late 2013, amid growing concerns over rising local government debt.

Chinese and European observers have voiced high hopes that Beijing and Paris will boost trade and interconnectivity in Eurasia and promote shared growth as French President Emmanuel Macron is set to kick off his state visit to China on Monday.

Chinese automobile executives expect a major reshuffling of their industry in the next five years, and say strong joint efforts among rivals will be required to keep many car makers from being wiped out.

Chinese industry has been following the path of technological innovation and opening-up for decades and will undergo even deeper and wider upgrades in the years to come, experts said.

Chinese Vice-Premier Ma Kai and French Minister of Finance and Economy Bruno Le Maire will co-chair the dialogue, spokesperson Geng Shuang said.