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China and the European Union (EU) decided to integrate China's "Belt and Road" initiative with the Investment Plan for Europe and establish a China-EU joint investment fund, Li said at the 17th China-EU Leaders' Meeting held Monday in Brussels.

Li said China is promoting a new model of industrialization featuring innovation and green development, as well as international production capacity cooperation such as infrastructure construction. This caters for the demand of China's economic development and is an important way to expand South-South cooperation and South-North cooperation.

Hua said progress has been made in consultations on a Code of Conduct in the South China Sea (COC), and the COC is meant to be a set of rules for China and countries in the region rather than rules set by outsiders.

In his keynote speech, Xi called on BRICS countries to build a four-pronged partnership -- safeguarding world peace, boosting common development, promoting diversified civilization and strengthening global economic governance.

He proposed the two sides cooperate more to benefit people in the two countries.