Li's application was approved, but troubles lay ahead because at the time China's forests were either held collectively or owned by the State.
Liang Jun, who has been in charge of LeEco's smart TV business, will now stand as the legal representative of Leshi.
Li made the remark when meeting with the media with visiting German Chancellor Angela Merkel.
Li will make an official visit to Bulgaria on Friday and will attend the seventh Leaders' Meeting of China and Central and Eastern European Countries, also known as 16+1 cooperation mechanism, on Saturday. Li's first European visit since the formation of the new Chinese government also will take him to Germany.
Li said in a Bloomberg Television interview that he expected approval for a separate US deal in November, but since then it has dragged on, without specifying the target company.
Li said merchants are willing to sell these products at social e-commerce websites and livestreaming platforms. "Online shopping habits of consumers will be cultivated further and we will see an increase in the proportion of online sales involving small home appliances."
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Li was echoed by Zhu, who said the application of new technologies can compensate for the rising costs and shortage of labor as many of the younger generation flock to cities looking for better-paid jobs.
Li said BYD has more than 50 customers for its electric buses, including municipal transit systems in Los Angeles and Denver, along with Stanford University and Facebook. BYD has also set up research and development facilities in the United States, she added.
Li made the remarks in a meeting with Brigitte Zypries, Germany's minister for economics and energy, who was in Beijing as a special representative of Chancellor Angela Merkel at the Belt and Road Forum for International Cooperation.
Liaoning is home to more than 40 million pigs and is mainly responsible for supplying pork to Beijing, Tianjin and other big cities in North China.