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The transaction volume of Chinese companies' overseas investment in the TMT sector also contracted by 30 percent last year. The wait-and-see attitude of these companies could be due to the rapid development of the domestic blockchain market, Hoogewerf said.

The trust fund balance in the real estate sector shrank by 148.07 billion yuan at the end of September compared to the end of June, the first quarter-on-quarter drop in over three years.

The tragic loss of Luo was not only for his family and his firm, but also for the country, Xi said in his personal condolence message in 2012.

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The two sides will host a string of events this year to expand exchanges and cooperation on education, religion, media, movies and television. The events are expected to help strengthen public support for China-Myanmar friendship, thus cementing and re-energizing the pauk-phaw friendship, Xi said.

The two nations are all-weather strategic cooperative partners and their bilateral friendship is built on strong foundations, he said.

The two sides will resume their talks with a face-to-face between Canada's Foreign Minister Chrystia Freeland and US Trade Representative Robert Lighthizer as they seek a breakthrough.

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The two sides have also worked on the Belt and Road Initiative for stronger regional connectivity and integration.

The two, which have been working on chassis, driving systems and new energy products, have decided to build a joint venture to produce electric powertrain systems for BAIC BJEV, a BAIC Group new energy car arm, and other carmakers in the country.

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The two leaders also exchanged views on the Korean Peninsula and Syria issues. They agreed to jointly push for a proper settlement of the peninsula issue via dialogue and negotiation.

The two countries agreed that they will prioritize each other in diplomatic activities, support each other in safeguarding their core interests including sovereignty, security and territorial integrity, with the two heads of state continuing to play a strategic leading role in bilateral ties.