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China Mobile said the decline in operating revenues followed the scrapping of roaming fees, a nationwide move that started from July this year. The company said it also faced tremendous challenges from rising market competition and rapid declines in data values.

China Railway and China Railway Signal and Communication sent teams to Singapore in December in the hopes of beating international rivals from Japan, South Korea and Germany to win the project.

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 and South Korea, two geographically close nations, share interconnected cultures and notable complementary advantages, Xi said, adding that the two sides have realized a leapfrog development in their relations since the establishment of diplomatic ties 25 years ago, which has benefited the two peoples greatly and contributed to regional peace, stability and prosperity.

China and the US should exercise proper judgment toward each other's strategic intentions, Xi said, adding that there are rising negative voices in the US toward China of late, which should be taken note of.