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Wang said Ethiopia, a regional power in Africa and an emerging economy with huge potential for development, is an important strategic and cooperative partner of China on the continent.

Wang expected the People's Bank of China, the central bank, to cut the reserve requirement ratio for banks by 150 basis points by the end of the year, after the central bank has cut the bench mark three times so far this year.

Wang Zhihua, deputy head of the disaster relief and public service department of the administration, said that from July 20, there will be more rainfall in northern regions.

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Wang is now busy building a modern, comprehensive farm that integrates ecological agriculture, the production and sale of green products, as well as rural tourism, providing visitors with the experience of a pastoral lifestyle by feeding the chickens and picking walnuts themselves.

Wang Shujin, from Hebei province, has been sitting on death row for about a decade for serial rape and murder. He was sentenced to 15 years in prison for rape and received the death penalty for intentional homicide on Nov 24 after a retrial at the Handan Intermediate People's Court in Hebei found him guilty of four rapes, three killings and an attempted killing from 1993 to 1995.

Wang noted that such efforts have paid off, as the company has already reaped the reward from its investments in other companies.

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Wang said China will continue to implement financial deleveraging in the second half.

Wang said the group would make use of different investment models including PPP, build-operate-transfer, equity participation, and mergers and acquisitions, to further compete with its established rivals in other parts of the world, in particular the economies participating in the Belt and Road Initiative and BRICS countries.

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Wang Tao, chief China economist at UBS Securities, said the People's Bank of China, the central bank, may cut the reserve requirement ratio by another 150 basis points before the end of this year and conduct open market operations such as using the medium-term lending facility to increase liquidity.

Wang said Putin made an important contribution to the success of the forum.