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China's efforts of property rights protection, mass entrepreneurship and innovation and the reform to streamline administration and provide better services have worked to unleash the vitality of enterprises and spurred economic development, Li said.

Thanks to the rapid development of rural e-commerce, online transaction turnover totaled 611.8 billion yuan in the first nine months, up 25.7 percent year on year.

BEIJING, Jan. 7 (Xinhua) -- Beijing Municipal Commission of Commerce has said that e-commerce transactions in the city are expected to exceed 2.5 trillion yuan (385 billion U.S. dollars) by the end of 2018.

China will continue to actively participate in reform and construction of global governance and promote development of a global governance system that is more just and reasonable, said Xi.

People-to-people and cultural exchanges play a significant role in enhancing the friendship and cooperation between the two peoples, he said.