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China aims to increase domestic crude oil output to 200 million tonnes by 2020. Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks and developing clean alternatives.

China and other partner economies participating in the initiative have achieved fruitful results, Weng said. SOEs have participated in more than 3,000 projects in countries and regions covered by the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

China Three Gorges Corp, the world's biggest hydropower builder, will further diversify its business into wind, solar, and other forms of new energy beyond its core business.

China Unicom will also independently build 5G networks in nine cities in Guangdong province, five cities in Zhejiang province and more cities in another eight provinces and regions. China Telecom, for its part, will build 5G networks in 10 cities of Guangdong province, five cities in Zhejiang province and cities in another 17 provinces and regions.

China also was the largest contributor to global 5G smartphone sales, and 72 percent of the global 5G handset revenue came from China, according to a recent research report from Counterpoint Research.