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China has vowed to eradicate poverty in all poor counties and regions by this year to build a moderately prosperous society in all aspects.

China is the third largest LNG consumer. Due to its green energy goals, the demand for LNG in China continues to grow, he said, adding that US LNG exports to China present an ideal opportunity to reduce the bilateral trade imbalance.

China has started a national defense and military reform in an effort to have a stronger military to better safeguard peace. China's defense budget and new reform measures concerning army building are to receive attention.

China is ready to deepen communication and cooperation with Italy on major issues such as global governance, climate change and WTO reforms to safeguard their shared interests, uphold multilateralism and free trade, and promote world peace, development and prosperity, Xi said.

China is expected to replace South Korea as the world's largest flat-panel display producer this year, according to a report from the China Video Industry Association and the China Optics and Optoelectronics Manufacturers Association.