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"ROK companies used to invest in labor-intensive industries in China. But now, they are shifting to high-end manufacturing and modern services," said Wang Lin, an investment promotion official in Yantai City.

The Chinese president reiterated his country's path of peaceful development and good-neighborly policy, saying China is willing to cooperate with Singapore and other Asian countries to achieve common development.

The two countries should properly manage the general orientation of the bilateral ties, respect and treat each other with equity, expand common interest, promote substantial cooperation, increase cultural and people-to-people exchanges, strengthen communication and coordination on international issues, and constructively control their disputes through dialogue and consultation, he noted.

Noting that India-China relations have now entered a golden era, Modi said his country is willing to learn from and carry out cooperation with China in the fields of railway, smart city and habitation construction, attract more investment from Chinese enterprises and promote tourism and cultural exchanges to bring the bilateral ties to a new height.

"This is the first time officials are formally asked to make such pledges," said Huang, adding that it signals the central leadership's determination to defeat poverty.