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While the Chinese are keener to start their own businesses, more reforms are being introduced to improve the efficiency and quality of ossified state-owned enterprises.

"To forge iron, one must be strong oneself, and the inspectors should take the lead in observing discipline and laws," Wang said. "Anyone who is found to have violated the Party's rules will be purged from the agencies."

The government will also loosen controls on the powers it delegates to companies, making sure that companies decide how to run their businesses.

China and France also plan to cooperate on another two British nuclear projects, one at Sizewell in Suffolk and the other at Bradwell in Essex. According to plan, China's third-generation nuclear reactor design, known as the Hualong One design, will be used after the technology passes British regulatory inspections.

More than 40 years ago, leaders of China and the United States, with extraordinary courage and vision, made the handshake across the vast Pacific Ocean. It put an end to years of no contact between the two countries and opened the door to normalization of relations and establishment of diplomatic ties between the two countries.