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China is one of the first countries to develop new energy vehicles, often called NEVs, to cut emissions and build a competitive car industry. It started to subsidize the sector in 2009 and 33.4 billion yuan had been earmarked by the end of 2015, according to statistics from the Ministry of Finance.

China is also willing to discuss financial cooperation in a bid to better realize mutual benefits and win-win cooperation.

China is looking to speed up the construction of pumped storage power plants, aiming for 60 GW of newly installed pumped capacity between 2016 and 2020, with 40 GW of pumped capacity in operation in the period.

China is gravely concerned by the escalating tensions in Kashmir and believes there should be no unilateral actions that complicate the situation, State Councilor and Foreign Minister Wang Yi said in Beijing on Friday.

China has warned the US of its actions after Trump signed the memo last week. The Ministry of Commerce responded on Tuesday by saying China will take all necessary and appropriate measures to protect its commercial and trade interests if the US wrongly accuses China of theft of US technology and intellectual property.