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China also welcomes financial market infrastructure and banks from France to access the Cross-border Inter-bank Payment System, and French representatives agreed to support companies to cooperate with China UnionPay on acceptance of UnionPay cards, the statement indicated.

China and the US inked a phase-one trade deal in January, marking a high point in their nearly two years of trade tensions. Last month, China moved to halve tariffs on imports of a number of US products that followed recent tariff reduction decisions by the world's largest economy.

China Star Optoelectronics Technology Co Ltd, a subsidiary of home appliance giant TCL Technology Group, will run a joint laboratory with San'an Semiconductor－a unit of San'an Optoelectronics Co Ltd－to develop micro LED technology, materials, production processes and equipment and accelerate the commercial large-scale production of micro LED displays.

China and Russia's strengthening cooperation in developing the Far East will introduce new opportunities for cooperation and prove mutually beneficial, Li said.

China Railway Hi-Tech Industry Co Ltd, a State-owned company that makes tunnel-boring machines, steel bridge structures, and rail turnouts, is racing to compete with other established competitors in the world.