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Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, said the surplus capacity in the domestic photovoltaic market will encourage upstream firms to seek more overseas opportunities, especially in Africa, and countries and regions participating in the Belt and Road Initiative.

Li made the pledge here Wednesday at the second LMC leaders' meeting, where he also announced the setup of a 5-billion-dollar credit line for supporting production capacity and equipment manufacturing cooperation among Lancang-Mekong countries, according to a statement released Thursday.

Li stressed the need to advance business system reform to remove the institutional hurdles to entrepreneurship and innovation, further spur market vitality and expand employment.

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Lin Boyao rang the "Peace Bell" at the ceremony together with other people from different walks of life. Lin and 13 other overseas Chinese living in Japan donated 500,000 yuan (,600) to help cast the bell in 2003.

Li said at the Summer Davos Forum in Dalian last year that 14,000 new companies are registered daily in China since the country took the initiative to encourage entrepreneurship and innovation in 2014.

Li said rapid evolution toward the driverless car and the arrival of car sharing were examples. Auto producers are moving toward the concept of being personal mobility providers rather than merely manufacturers, as they grapple with wider trends in modern motoring.

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Like the economy, China's residential property industry is transitioning from high growth to high quality. And that is a game-changer with potential long-term implications for the whole economy, experts said.

Liang Hong, chief economist with China International Capital Corp Ltd, said valuations of blue chip stocks have taken a beating. In addition, the sharp drop in the market last week appears to reflect emotional panic.

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Li's lawyers insisted on his innocence "because we found Li's conviction was made just based on oral confession, and the confession to the crime might have been made when he was illegally detained," Xu Xin, one of the lawyers, told ThePaper.

Like a ballet performer with the grasp of skills and arts, Gui is using his experience, sharp mind and passionate commitment to explore his investment career.