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The organizer added the 25th MIF and the 2020 PLPEX will be held on Oct. 22-24 in 2020.

They will also leverage on the opportunities brought by the Fourth Industrial Revolution and expand cooperation in areas including innovation, smart city development, digital economy, digital supply chain and work force, artificial intelligence, big data, internet of things (IOT), information and communication technologies, e-commerce and micro, small and medium enterprises (MSMEs).

Openness and integration should also be upheld to promote liberalization and facilitation of trade and investment, Wang said. The rules-based multilateral trading system should be upheld and necessary reforms to the World Trade Organization should be carried out to create an open, fair and non-discriminatory playing field, he said, adding developing countries should be supported in continuing to enjoy "special and differential treatment."

The session stressed upholding and improving the fundamental, basic and important institutions that underpin the system of socialism with Chinese characteristics. A set of institutions that are well conceived, fully built, procedure based and efficiently functioning must be built to better transform institutional strength into effective governance, it added.

BEIJING, Nov. 22 (Xinhua) -- Chinese President Xi Jinping said on Friday realizing the Chinese dream of national rejuvenation is by no means to seek hegemony.