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China will also promote the healthy development of platform economy and shared economy, encourage corporate mergers and acquisitions, and avoid low-level repetitive construction, the document said.

China looks forward to working with other members to achieve three goals at the summit of Shanghai Cooperation Organization: making the SCO more cohesive, more effective and more influential, Foreign Minister Wang Yi said on Thursday.

China so far has had three rounds of pilot central SOEs mixed-ownership reform, with some firms, such as the country’s telecom giant China Unicom, having introduced non-State investors. The results of the reform have been broadly positive, Xiao said.

China issued four 5G licenses on June 6, which officially kicked off the 5G era. Major telecom carriers and device makers are all making their biggest push to apply and commercialize the technology.

China removed restrictions on new energy vehicles earlier this year, allowing foreign brands to set up wholly owned companies in the country, and US electric carmaker Tesla has signed a deal to build a manufacturing facility in Shanghai.