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China has become the world's largest investor in renewable technology, and the country is increasing its solar and wind capacity at a record pace, driving down the cost of the technologies as it does so. The IEA predicts that, in 25 years, solar power will be the cheapest form of energy.

China has been revamping its massive State-owned businesses through mergers and acquisitions, industrial upgrading and innovation. In September, the central government launched its largest private equity fund, worth 350 billion yuan, to finance SOE restructuring.

China has become Starbucks' largest overseas and fastest-growing market.

China appreciates the firm adherence of Sao Tome and Principe to the one-China policy and is willing to advance pragmatic cooperation with the African country, Li said in a meeting with Trovoada ahead of the signing ceremony.

China began importing solid waste as a source of raw materials in the 1980s and for years has been the world's largest importer.