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He pointed out that talks between Russian and Chinese leaders will be a good thing for global peace, as Russia and China act as counterpoise regarding the policies of other world powers.

Germany welcomes China's bigger role in international organizations, such as the International Monetary Fund and the World Bank, Merkel said, adding that China should also accept responsibilities in proportion to its economic power.

Tsipras, for his part, said that Greece welcomes investment from China.

This is the tenth Annual Meeting of the New Champions, or the Summer Davos, as it is known. There is a Chinese saying which goes, "It takes ten years to grow a tree." If we could compare the Summer Davos to a tree, after ten years of careful nurturing, it has grown into a luxuriant tree with bountiful fruits. It has showcased to the world the process and achievements of China's reform, opening up and modernization. It has also contributed wisdom and strength to the common development and prosperity of China and the world.

The actions China has taken in the South China Sea are legitimate reactions to safeguard its territorial sovereignty. China will continue to take reasonable and legitimate approaches to safeguard its territorial sovereignty and maritime rights and interests.