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"Chinese officials have to be talented because they have to go through a rigorous examination system, but the salaries offered in the private sector, particularly in areas such as finance, might be double or triple (those in government). So one area to look at in China is to fast-track top talent and give people higher salaries."

"Competition in the retail market has been intensive and independent oil companies are also expanding their retail networks to compete with the State-owned ones," she said, adding that Sinopec's retail volume fell 3.47 percent year-on-year in the first quarter.

"China will push reform and opening-up more actively, and deepen State-owned enterprise and asset as well as fiscal and financial reforms, to implement major opening-up measures previously fixed," said a statement released after a meeting last month of the Political Bureau of the Communist Party of China Central Committee.

"Currently those countries incinerate about 65 to 70 percent of their total waste, with daily production capacity reaching about 800,000 tons each. China is likely to hit this level by 2025. Now China's waste-to-power development is seeing steady progress, and has a relatively mature industrial value chain and technologies. Going forward, more effort is needed to advance current technologies to raise incineration efficiency and reduce emissions, as well as reduce costs to promote waste-to-power development in rural, less-developed areas," Zhang said.

"China-Europe cooperation is crucial and important for reducing uncertainties in the current international situation and boosting the confidence of the global community," said Ruan Zongze, executive vice-president of the China Institute of International Studies.