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Li said together with joint ventures with local players, solely invested projects in China also play a key role in BASF's global layout. The Jinshan project is part of the company's continuous and steady investment in the country. The company has acquired land, buildings and assets of Sinopec Shanghai Petrochemical Co in August, adjoining BASF's Jinshan facility, in order to meet the growing demand from customers across the region in general and China in particular.

Li said China welcomes the Asian Infrastructure Investment Bank's proposal of a COVID-19 Recovery Facility with an initial capitalization of billion.

Li said the rebound in investment is attributable to the steps the country has taken in recent years to reduce leverage levels, cut taxes, and phase out excessive industrial capacity, which aimed to replace old growth drivers with new ones, as well as tax cuts.

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Lin Keqing, executive vice-mayor of the capital, said the government will introduce more supportive policies on cross-border trade, exit-entry affairs for talented individuals, and intellectual property protections this year, which will help the capital become more friendly to all businesspeople and investors from around the world.

Li has won numerous fans with her trademark short hair, a neutral style and deep, soulful voice.[Photo provided to China Daily]

Lianhua shares rose 24 percent to close at HK.92 on Monday while the benchmark Hang Seng Index rose 0.24 percent. The market was closed on Tuesday for the Dragon Boat Festival.

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Li's remark came as he met with UK Foreign Secretary Jeremy Hunt at the Zhongnanhai leadership compound in Beijing on Monday.

Li was most known for his witty comments and easy-going style while he hosted several hit reality game and talent shows, including Lucky 52, A Special Six-Plus-One, as well as the talk show Yong Le Hui.

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Li said a modern steel producer should aim to produce high-quality products, enhance energy conservation, and improve air-quality.

Li was an important founder, loyal practitioner and active promoter of China's socialist market economy system. He appropriately handled reform, development and stability with consideration of China's conditions, it added.