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He said in the short term, listed Chinese companies overseas and dollar-dominated private equity funds will have an advantage over investors holding only RMB assets in outbound M&A's.

He said that big groups dominated by insurance, local government and internet companies will be the core to the supervisory process.

He said that China is willing to accelerate an alignment with Canada's development strategies, deepening cooperation in fields such as trade, investment and agriculture, as well as boosting cooperation in third-party markets.

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He said many employees have made significant contributions to the work of CRBC during the past 34 years and contributed to the company's growth in Kenya. They, in turn, have gained technical and management experience, and many of them have been promoted to technical and managerial positions. Li said they have created value for CRBC while enjoying a rise in the living standards of their families.

He said China cannot agree with the US linking its concerns to the selection process.

He said it was really difficult to make such a forecast for 2020 - as so many uncertainties remain. But there is no doubt that if social incidents continue this year, the "chilly winter" of the retail market will not end.

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He said he first had the idea when oBike went into liquidation last year.

He said Jingye Group's investment over the next decade will put the business on a more competitive and sustainable footing, as it will modernize the site and improve energy efficiency and environmental performance.

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He reflects also on when he worked for the US bank Citibank in the 1990s in London.

He said about 50 percent of the infant formula brands may be removed from the Chinese market after the implementation of the new system. So, the company expects a growth rate higher than the industry's compound annual growth rate of 22.6 percent.