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Wang made the remarks while attending the 10th East Asia Summit Foreign Ministers' Meeting via video link.

Wang Mingwang, Sunwoda's chairman, said the investment will boost the company's lithium-ion battery production capacity and optimize its industrial layout in the country.

Wang made the remarks during a meeting with French Foreign Minister Jean-Yves Le Drian on the sidelines of the 74th session of the United Nations (UN) General Assembly high-level events week.

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Wang said currently, China is seeking development of high quality, and deepening structural reform is part of the endeavor.

Wang compared the procedure to riding a horse. "The horse will get a signal and become docile once you do some standardized actions, indicating that you are a professional. Gradually, this will also turn into an upward and positive circulation."

Wang pointed out that a platform should be set up to encourage local cooperation and to demonstrate the integrative innovation of large and medium-sized enterprises.

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Wang Yang (right), a member of the Standing Committee of the Political Bureau of the CPC Central Committee, shakes hands in Beijing on March 2 with Yu Zhengsheng, chairman of the 12th CPPCC National Committee. ZOU HONG/CHINA DAILY

Wang believes the initiative could prove to be as important as the creation of the European Union by its principal architect Jean Monnet in 1958. (It was originally known as the European Economic Community.)

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Wang said the competition is also a "wind indicator" showing life is getting back to normal after the pandemic.

Wang Nai, deputy director of the Promotion Office of the Construction of Scientific and Technological Innovation for Shanghai, said there are 14 national-level scientific infrastructure projects that will be put into operation by 2025.