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China and Africa have a long history of cooperation, and it's exciting to see Africa making "incredible developments" with China, he said, adding that with new opportunities brought by the BRI, China-Africa relations have entered a new phase.

China also introduced other measures to maintain fiscal revenue growth of local governments and offset the impact of the tax and fee reduction. For instance, it plans to transfer the majority of dividends from State-owned enterprises to local governments. Dividend collections from State-owned enterprises, which are part of the government's nontax revenue, have increased fourfold in the first half this year, according to the Ministry of Finance.

China Mobile Shanghai selected Huawei's 5G Digital Indoor System, which is currently the industry's only commercially-available solution for 5G indoor coverage. This product was developed in Shanghai, and is now ready for mass delivery. Huawei's 5G system is undoubtedly the best choice for 5G commercial deployment of operators, Huawei added in a statement.

China Daily was not able to reach Li Jinhua on Friday.

China Mobile said its net profit for 2018 hit 117.8 billion yuan (.63 billion), beating the market estimates of 115.4 billion yuan.