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Citing China National Petroleum Corporation's 2013 acquisition of a 20 percent stake in the Yamal LNG project located in the Arctic region of Russia and Sinopec's purchase of a 10 percent share in Russia's largest gas processing and petrochemicals company Sibur, Li said China was already active in Russia's Far East regional development.

Chongqing eyes to be a pioneer in promoting the application of block chain technology as the southwestern Chinese metropolis scrambles to cultivate an industrial cluster for companies that work in the cutting-edge technology.

Clini said China is fully aware of the overcapacity issue and is also implementing new environmental measures. As a result, "a big restructuring of the Chinese steel market is taking place and China is becoming a world leader in innovative environmental technologies," he said.

Clean energy heating area in northern China grew by about 3.6 billion square meters over the same period, data showed.

Cicero said the facility will be highly automated. "It's going to be a smart factory, and there will be hundreds of jobs. While there may not be as many employees as in a traditional tire plant, the ones at our facility will be high-paying positions," he said.