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For example, we hope the U.S. will further ease its restrictions on high-tech exports to China. Such exports may not take up a large share in China-U.S. trade, but its impact is a significant one. I believe that through negotiation, our two sides will be able to reach a high standard and mutually beneficial BIT.

It further called on the entire Party to comprehensively implement the Party's key policies and to prepare for next year's 19th CPC National Congress.

Kondapalli praised Xi's proposal. "As a concrete proposal, the New Development Bank of BRICS has taken off with projects now being evaluated for execution," he said.

For the Chinese contractors, the construction of a railway with a designed speed of 120 km per hour is not difficult. But it takes nothing short of a great feat to complete it with no compromise on quality and timeliness when there are inadequate construction materials and technical staff in Ethiopia.

Beginning last year, domestic consumption has accounted for around 70 percent of the GDP growth in China, said Yi, adding that the country will further employ monetary, fiscal and structural policies to shift its economic model towards more consumption.