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Li lays pieces of fresh tofu on wooden racks, where it will sit for five days, slowly fermenting into blocks of stinky tofu. Li needs to flip the pieces over twice during the fermentation process to fully ferment the tofu.

Like many other Chinese companies, after achieving its industry leading position in 2015, snack company Liangpinpuzi was struggling with razor-thin profit, lack of innovation, and inefficient management, said Yang Hongchun, chairman of Liangpinpuzi.

Liao Zhiming, chief banking analyst at Tianfeng Securities Co, said the novel coronavirus outbreak may increase nonperforming loans at commercial banks by 250 billion yuan this year.

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Li suggested the two sides expand two-way investment, encourage enterprises of the two countries to invest in each other and jointly explore third-party markets.

Li's remark came as he and visiting Japanese Prime Minister Shinzo Abe each delivered a speech at a reception to commemorate the 40th anniversary of the Treaty of China-Japan Peace and Friendship.

Li, who served as premier from 1987 to 1998, died in Beijing on July 22 at the age of 91. He had also served as a member of the Political Bureau and the Secretariat of the 12th Communist Party of China Central Committee, and of the Standing Committee of the Political Bureau of the 13th, 14th and 15th central committees of the CPC, and as chairman of the ninth National People's Congress Standing Committee.

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Li will attend the 7th China-Japan-ROK leaders' meeting on Wednesday, together with Japanese Prime Minister Shinzo Abe and ROK President Moon Jae-in.

Li was confident that the airlines would contribute to serving Cambodia's Rectangular Strategy and China's Belt and Road Initiative as well as the Lancang-Mekong Cooperation.

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Liaison office strongly condemns flag-insulting acts of radicals in Hong Kong

Lia Zhu in San Francisco and Yinmeng Liu in Los Angeles contributed to this story.