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With two-thirds of the world's population, G20 contributes about 90 percent of the world's total gross domestic product and 80 percent of the world's trade volume. Now, the G20 has become the premium forum of global economic cooperation.

"We should enhance steady growth both in exports and imports to advance the country's industrial upgrading to attract new foreign investment on top of the foreign investment already in the Chinese market," Li said.

The technical secretariat will also begin a five-month working process where the two countries will advance on topics such as joint financing, cooperation in oil and mining, and electrical energy.

Li said globalization was frustrated and uncertainties and destabilizing factors in the international situation are on the rise with the sluggish recovery of the world economy, growing geopolitical risks and threats posed by terrorism and the refugee issue.

CRRC, formed from the merger of former rivals CNR Corp. and China CSR,has been aggressively reaching out to overseas markets, exporting rail transportation equipment to 101 countries and regions.