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China also would encourage more SOEs to compete and cooperate with major firms of other countries in the global arena, he said at a press conference during the annual sessions of the 13th National People’s Congress and the 13th National Committee of the Chinese People’s Political Consultative Conference.

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China Mobile has become the world's largest IoT connection service provider, with IoT base stations reaching more than 1.62 million, Sha said, adding they will promote NB-IoT and eMTC technologies this year, as well as accelerate layout in IoT chipsets, modules and terminal devices.

China Telecom, for instance, has invested more than 10 billion yuan since 2011 on the construction of communication networks. Currently, optical cables and 3G network are accessible in all townships, and 90 percent of Tibetan counties can use the 4G network now.

China and India should also boost trade and investment cooperation and work together for earlier harvests from large-scale collaborative projects in such areas as production capability, industrial parks and railway construction, he said.