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A: China's initiative to establish the Asian Infrastructure Investment Bank aims to promote infrastructure development and connectivity in Asia and boost regional cooperation.

The two sides reached important agreement in various fields, such as economics, trade, energy, people-to-people exchanges, science and technology, agriculture, law enforcement, cybersecurity, defense, aviation, and infrastructure, Cui added.

"We are willing to work together with civil society of other countries to carry out grassroots-oriented projects on medical services poverty reduction and other livelihood projects," said You Jianhua, Secretary-General of CNIE.

"The transition will not happen overnight, as we must wait for these new leading industries to become established and take the economy to the next level," said Huang Yiping, a professor of economics at the National School of Development, Peking University. "And it will take more than a couple of years before they can begin to do so."

The president added that China is ready to work with other relevant parties to move forward the implementation of the Belt and Road Initiative, achieve an early operation of the Asian Infrastructure Investment Bank and the BRICS New Development Bank, and contribute to the economic growth and people's well-being of the developing countries.