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"These measures will be beneficial to startups, as they normally have to grapple with challenges like insufficient capital and weak risk tolerance. And preferential tax policies will create new momentum for entrepreneurship and innovation," said Bai Ming, a senior researcher with a Ministry of Commerce think tank.

China is willing to join hands with Africa to build the continent's networks of high-speed railway, expressway and regional aviation and push forward the industrialization of the continent, he added.

Representatives of the summit voiced concern over global challenges, including improving global governance, pushing forward poverty reduction and combating climate change.

Still, Putin stressed that Russia is willing to cooperate in all kinds of mechanisms with any country that is interested in such cooperation, including the U.S. and European countries.

Meanwhile, the two sides should continue to expand trade and the scope of financial cooperation, actively carry out industrial investment cooperation, and promote bilateral pragmatic cooperation to a higher level, Wang said.??