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China speaks highly of the efforts made by both sides on the peninsula, and the international community and all parties involved should support and encourage the efforts, Xi said.

China overtook the United States to become the world's largest manufacturer in 2010. But rising costs in labor, land and resources mean that extensive growth is not sustainable. The country is comprehensively upgrading its manufacturing industry by boosting efficiency through intelligent manufacturing.

China should get a lower limit for the manufacturing output-to-GDP ratio in the new five-year plan, in line with international practices like in Germany, as well as build a fiscal and tax policy system that is more friendly toward high-quality development of the manufacturing sector, he said.

China spearheads the world in internet development and mobile innovations. For instance, new e-commerce platforms are emerging in the country and have become an important online sales channel, he noted.

China produces more than 80 percent of the world's refined cobalt and is also the world's leading consumer of cobalt, with nearly 80 percent of its consumption being used by the rechargeable battery industry, according to the United States Geological Survey (USGS).