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China promulgated its arbitration law in 1994. The country now has around 60,000 arbitration professionals handling disputes in trade, real estate, finance and other sectors.

China is working on new ways to improve chip performance, power and costs for AI applications, which will present huge opportunities for companies laying the foundations for such technological breakthroughs, said Gary Dickerson, president and chief executive officer of Applied Materials Inc, a leading semiconductor and display equipment company.

China will also import up to 38 billion cubic meters (27.3 million tons) of gas from Russia to China each year through its China-Russia East-Route Natural Gas Pipeline by the end of 2020, when the pipeline is completed.

China is willing to encourage more Chinese companies to invest in Egypt and continue to encourage Chinese tourists to travel to Egypt, Wang said.

China should make good use of the experience from progress made in the institutional reform of the central and state organs since the third plenary session of the 19th CPC Central Committee and carefully plan local institutional reform, Xi said.