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The China-CELAC forum provides a new platform for China and CELAC countries to develop all-round cooperation, the professor said, expressing the hope that the forum will gradually become mature and bring about tangible results through pragmatic cooperation between the two sides.

Yang also met with Algerian President Abdelaziz Bouteflika on the day, both pledging efforts for closer ties between the two countries.

However, AmCham South China member companies, which collectively account for nearly 40 percent of all U.S.-China business, trade and investment, plan to reinvest profits of more than 12 billion U.S. dollars this year.

He said China will work with African countries to promote their strategic partnership to achieve new progress.

China will advance its ongoing reform in fiscal, tax and key financial areas, Li pledged, adding that his country is to further relax foreign investment access and open its service industry wider to the outside world.