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"To brave through the rough waters of world economy and start a new journey for future growth, it's good to know that we are in the same boat," he said in the opening address of the G20 summit.

With the economy on fire and a long tradition of entrepreneurship, local magnates are taking the fight around the globe. Automaker Geely became a global name in 2010 when it bought the ailing Swedish brand Volvo from Ford for 1.8 billion dollars. Today China's listed companies are targeting acquisitions in automobiles, electronics, chemicals and bio-medicine in Europe and North America. From 2012 to 2014, Chinese enterprises made 29 such acquisitions, 10 of which originated in Zhejiang.

Cui called on the media organizations of the two neighboring countries to work together to lead the bilateral relations in the right direction, tell great stories of the bilateral cooperation and deepen the practical cooperation between them.

It said the leaders welcomed the significant progress of ASEAN-China cooperation made over the past 25 years. Meanwhile, ASEAN leaders noted China's initiatives such as the "Belt and Road" and the 2+7 cooperation framework for further enhancing ASEAN-China relations.

As of the end of 2015, 55.75 million rural Chinese were still classed as impoverished, meaning they had a per capita net income of less than 2,800 yuan a year.