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Xi said China and the United States should respect each other's core interests and major concerns, and properly manage differences through dialogue and negotiations.

In a five-pronged proposal for peace and stability in the South China Sea, he also suggested that sovereign and jurisdictional disputes in the region be settled through friendly consultation and negotiation.

He thanked China for supporting Africa's liberation struggle alongside the Continent's quest to overcome poverty, disease, hunger and illiteracy.

With further economic reforms, the State Council (China's cabinet) has decentralized and released reforming bonuses. Reforms of the household registration system, rural land, social security, and other initiatives are flowering.

In the process of establishing investment firms and restructuring SOEs, the government will transfer some state equity into the hands of social security funds, so that proceeds from those equities can be used to make up shortfalls in pension funds, the guideline said.