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"China welcomes enterprises from all over the world to seize the opportunities brought by greater opening-up, to expand cooperation and better achieve win-win results," Li said in a congratulatory letter saluting the BASF smart Verbund petrochemical project in Zhanjiang, Guangdong province, over the weekend.

"China stands for steadily advancing international cooperation on the Arctic," the white paper said.

"China's determination to reform and open up has given us confidence in expanding our business in China," said Duan.

"Compared with the previous round of property development, which is mainly fueled by investment, the new round of development is driven by consumption," said Nie Meisheng, founding chairman of China Real Estate Chamber of Commerce, at the 2020 annual meeting held from Dec 13 to 14. She also said digital technology will play a pivotal role in empowering buildings and communities.

"Credit-based regulation is crucial for the sound working of market institutions," Li said.