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Within another five to ten years, a more mature and comprehensive community governance system will offer strong support for the CPC at a grassroots level, while consolidating local governments, the guideline noted.

29. The two sides agreed to hold a successful 2017 China-EU Blue Year and work towards the building of a China-EU Blue Partnership focusing on ocean management and other cooperation priorities.

Finance is the lifeblood of modern economy. Only when the blood circulates smoothly can one grow. We should establish a stable and sustainable financial safeguard system that keeps risks under control, create new models of investment and financing, encourage greater cooperation between government and private capital and build a diversified financing system and a multi-tiered capital market. We should also develop inclusive finance and improve financial services networks.

In addition to backing trade liberalization and investment facilitation, China and the EU, as two major players in the international community, also have broad consensus on addressing global challenges.

The Belt and Road Initiative was proposed by Chinese President Xi Jinping in 2013 with an aim to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond ancient trade routes.