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Fourthly, countries should boost regional cooperation on sustainable development.

The two leaders recognized that the elevation of China-Philippines relations to higher levels is in line with the fundamental interests and shared aspiration of the two countries and peoples, the statement said.

Meier said the young generation of the two countries shared experience of the digitalization and some IT solutions that greatly increase the efficiency in managing seaports.

"China has played a constructive role in promoting a successful APEC meeting, and shown its utmost sincerity," said Geng, adding that consultations on the basis of consensus are a fundamental principle for APEC members to cooperate, as well as a precondition that guarantees a healthy development of APEC.

Some 50 business agreements worth 18 billion U.S. dollars had been signed between Chinese and Japanese local governments, companies and financial institutions during the forum. Li said this showed that China and Japan enjoyed huge potential and broad prospects on third-party market cooperation, which would become a pillar of bilateral cooperation.