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During the East Asian leaders' meetings in Seri Begawan, Brunei, China is expected to propose a new pattern for cooperation in the region, including a free trade system under a regional comprehensive economic partnership (RCEP), an Asian currency stability system, an investment and financing cooperation system, and an Asian credit rating system based on the Asian bond market.

Experts say elevating the status of the market from "basic" to "decisive" in allocating resources is a significant breakthrough, indicating that the economy will focus on the role of the market rather than the government.

Wang called on the US to respect China's interests and concerns in the region. He first mentioned the Taiwan question, saying it concerns China's sovereignty and territorial integrity.

The two sides will push forward the establishment of cultural centers in the other country. China will support Serbia to promote the teaching of the Chinese language and the establishment of Confucius institutes. China will participate in the 2014 Belgrade International Book Fair as a country of honor.

The economies of China and the UK complement each other, have a solid foundation and enjoy a broad future, Xi said.