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China would like to take the occasion of the 20th anniversary of the establishment of diplomatic ties with the southern European country in 2015 to deepen political mutual trust, promote cooperation in various areas, facilitate personnel exchanges, strengthen cultural exchanges and continue to support each other in multilateral occasions so as to lift China-Monaco ties to a new level, said Xi.

Noting that Beijing regards enhancing BRICS and China-Latin America cooperation as a key priority in its foreign policy, Wang said the trip was aimed to boost common development and win-win cooperation among developing countries, promote reforms of global economic governance and safeguard the legitimate rights of developing countries.

Chinese Premier Li Keqiang (L) meets with French Foreign Minister Laurent Fabius in Beijing, capital of China, May 19, 2014. (Xinhua/Ding Lin)

The BRICS stands ready to "contribute to the G20 goal of lifting our collective GDP by more than 2 percent above the trajectory implied by current policies over the coming five years," said the declaration.

He said China has established defense consultation and dialogue mechanisms with 13 neighbor countries, and has held 50 joint exercises and drills with other countries in this region in recent years.