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The SASAC will step up efforts in deepening supply-side structural reform, optimizing the allocation of resources and upgrading management levels, in a bid to lay a solid foundation for high-quality development of central SOEs.

He said Timor-Leste sees China as a trustworthy friend, and is grateful to the assistance China has provided for the country's economic development. Timor-Leste is willing to actively participate in Belt and Road cooperation, enhance inter-connectivity, and work with the Chinese side toward greater development of the bilateral comprehensive cooperative partnership.

After hearing reports on Shanghai's internet-enabled "one-stop" government services, the premier said efforts should be made to improve and reengineer the government process by using the internet and big data to offer more convenient services to enterprises and the people.

"Innovation in regional financial reform needs to follow macro policy and serve the larger interests. Local governments must play a part and fulfill their due responsibilities in supporting the growth of small-and medium-sized companies and coordinating the macro policy with need of regional development," Li said.

The reception was attended by more than 3,800 representatives from Hong Kong, Macao, Taiwan and overseas Chinese communities.