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China welcomes all countries, including Italy, to actively participate in its development and realize mutually beneficial cooperation, President Xi Jinping said on Wednesday.

China proposes the establishment of a joint investment fund between financial institutions from the three nations under commercial and market principles to provide funding support for trilateral cooperation and cooperation at an even larger scope, Li said at the leaders' meeting.

China plans to adopt an "all-around" supervision program covering all phases of outbound investment, with more steps to fill a policy void and further facilitate legislation in the pipeline, according to the nation's top economic regulator.

China will also gradually ban the production, import and export of certain types of electrical switches, cosmetics and pesticides that contain mercury.

China should make full use of the Constitution's important function in modernizing China's system and capacity for governance and strengthening the Party's long-term governance capacity, said Xi.