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While sparkplugging the very spirit of free trade, they should also jointly work to reform existing global economic governing institutions so that they can be more open, inclusive and resilient.

-- The next decade will see faster changes in the international landscape and the international alignment of forces. Emerging markets and developing countries already contribute 80 percent of global economic growth. Based on exchange rate calculation, these countries account for nearly 40 percent of the global economic output. Growing at their current rates, these countries will see their economic output approach half of the global total in a decade. The collective rise of emerging markets and developing countries is unstoppable, and it will make global development more balanced and global peace more firmly based.

"We welcome you here. We value your partnership and value your friendship and we want to continue," he told the audience.

China is ready to work with France to promote the synergy of strategic industries to a new stage, Li said, calling on both sides to promote major projects in nuclear energy and aerospace, support both sides to strengthen innovative cooperation in digital economy, AI and high-end manufacturing.

China will continue to encourage Chinese companies to invest in the five provinces to improve the livelihood of the people there so that the China-Mongolia comprehensive strategic partnership can bring more and better benefits to them, he said.