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"Countries around the world are working to upgrade their business environment, as this is crucial for attracting investment, boosting market vitality and stimulating public creativity," Li said, "Our efforts so far still fall short in some respects. We must make sustained efforts to enhance our business climate as an important means for managing the complex external environment and promoting high-quality development."

The principle of "special and differential treatment," which is a cornerstone of the WTO, is not to be challenged. Otherwise the very foundation of the multilateral trading system will be shaken, he said.

He noted that efforts should be made to create more opportunities for young people in Hong Kong and Macao and help them overcome difficulties in their studies, employment and starting up of businesses.

For his part, Medvedev spoke highly of the high-level mutual trust between the two countries, saying Russia is willing to intensify exchanges with China at all levels, further enhance substantial cooperation and expand trade scales.

The U.S. side, he added, is ready to increase cooperation with China through consultations and actively seek mutually beneficial solutions to their problems.