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China's central SOEs were once publicly owned, without shareholders. The corporation system introduces shareholders, which helps define operation responsibilities and make enterprises into independent market economy players.

China would like to enhance strategic mutual trust with PNG and promote the exchanges of political party, parliament, local and people-to-people areas, Xi said.

China's 25 leading excavator makers sold a total of 24,625 excavators last month, up 62.9 percent year-on-year, according to the China Construction Machinery Association.

China's A-share market is likely to remain bullish this week, while stock performances may diverge, analysts said.

China will invest around 110 billion yuan (.2 billion) by 2020 to help the country's top 42 universities become first-class institutions, while creating 137 universities with first-class standing in specific fields, Yang Wei, former director of the National Natural Science Foundation of China, said during a panel discussion at the 20th annual meeting of the China Association of Science and Technology in Hangzhou, Zhejiang province, which opened on Saturday.