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China has pledged to step up reform of State-owned enterprises in the second half of this year, as the SOE regulator plans to carry out the diversification of equity at headquarters or group level, at two to three central SOEs within the year and push forward the strategic restructuring of central SOEs in key industries including further stepping up mixed-ownership reforms, according to the State-owned Assets Supervision and Administration Commission.

China is ready to work with Singapore to expand cooperation under the Belt and Road Initiative (BRI). Lying at an intersection between two oceans and between land and sea, Singapore is a natural partner of the BRI. In May last year, the two sides signed the MOU on Belt and Road cooperation. We are now working vigorously to build the three cooperation platforms ofconnectivity, financial support, and third party cooperation. The New Land-Sea Corridor connecting our two countries has made better-than-expected progress. The Guangzhou Knowledge City has been elevated to a national-level project between the two sides. Third party cooperation is another promising area. We encourage our businesses to actively explore possibilities of cooperation in infrastructure, petrochemicals, shippingand logistics, industrial parks, e-commerce and other sectors on the basis of market principles and in line with the wishes of host countries.

China is firmly determined to uphold national sovereignty, safeguard Hong Kong's prosperity and stability and oppose external forces to meddle in Hong Kong affairs.

China is providing infrastructure and securing transport routes, thereby not only benefiting Chinese markets but also providing economic growth and stability to Europe and other regions, Noesselt said.

China is trying to shift its economy toward a growth model driven more by consumer spending, innovation and services while weaning it off overreliance on exports and investment.