Li warned of a drastic sharp fall in net profit for the State-owned oil and petrochemical companies as domestic demand for refined products and natural gas softens, while prices for those commodities and crude oil are sliding as well.
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Li said traditional, standardized production no longer adapts to customized demands. Big companies should promote entrepreneurship and innovation to remain competitive, he added.
Li will hold meetings with Thai Prime Minister Prayut Chan-o-cha, and join him in witnessing the signing of cooperation documents and meeting the press.
Li said this year’s investment will be the same, if not higher.
Like Papp, more and more foreign entrepreneurs in China will benefit from the country's continuous efforts to level the playing field for domestic and foreign-invested enterprises, among other priorities to vitalize market entities in the next five years, experts said.
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Li said China is willing to work with the UK in boosting cooperation in key areas, such as the financial sector, and to firmly safeguard rules-based multilateralism and free trade.
Li wrote 20 letters to the legislature in February that included more than 10,000 signatures.
Li took out his phone and showed me on a map how close Fuping is to Beijing, Xiongan and Wutaishan, a scenic mountain spot in Shanxi.
Li, chairman of the National People's Congress (NPC) Standing Committee, made the remarks when delivering a report on the work of the committee to the third session of the 13th NPC for deliberation.