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China proposed the GEI vision at the UN Development Summit in September 2015. GEIDCO has been committed to promoting the development of the initiative to meet global power demand with clean and green alternatives. It currently has 365 members across 45 countries and regions.

China overtook the United States to become the world's largest manufacturer in 2010. But rising costs in labor, land and resources mean that extensive growth is not sustainable. The country is comprehensively upgrading its manufacturing industry by boosting efficiency through intelligent manufacturing.

China will continue to expand the two countries' exchanges and cooperation in trade, education, science and technology, and culture and tourism, while jointly building the China-Mongolia-Russia Economic Corridor. While realizing its own development, China will also benefit Mongolia and give people a greater sense of prosperity.

China should firmly reject the development model that damages or even destroys the environment and bid farewell to practices that boost short-term economic growth at the cost of the environment, he said.

China will continue to create a good legal environment and further refine the business environment for private businesses, and it will unwaveringly develop the public sector and encourage, support, guide and protect the growth of the private sector, he said.