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The emphasis on safety follows two huge explosions at a warehouse used to store dangerous chemicals in Tianjin, north China, on Aug. 12, killing at least 114 people.

The bilateral meeting reviewed China's emergency relief assistance to Nepal in the immediate aftermath of the devastating quake.

To improve competitiveness, the company is striving to develop new products, expand markets in emerging economies and tap into new businesses such as sea water desalination, nuclear power equipment and environmental protection.

"China-Vietnam ties face new opportunities," Xi said, calling for consolidating traditional friendship, expanding cooperation and cultural exchanges, and maintaining high-level contacts.

Countries are at different stages of development. Global cooperation on production capacity will match supply with demand effectively, and generate more demands through innovation on the supply side. As developing countries accelerate industrialization and urbanization, they now have a strong demand for applicable technologies, equipment and infrastructure. Many middle-income countries and developed countries also need to upgrade their equipment and infrastructure. However, constrained by funding shortage, some demands have been repressed. Talking about comparative strengths, developed countries have advanced key technologies and equipment, but the demand for their products and equipment is limited due to high prices. Developing countries may enjoy rich natural resources and low labor costs, yet most of their industries and products are at the low end. And as far as China is concerned, it has manufacturing capacity for quality and affordable mid-end equipment, strong engineering and service capabilities, and large foreign exchange reserves. What China needs is to transform and upgrade its industries. Three-party cooperation could combine our comparative strengths, and provide quality equipment and products with relatively low prices to bring down construction costs and better meet the needs of different countries. It will also help countries overcome the difficulties in industrial development, upgrade their industries and integrate the high-, mid- and low-ends of the global industrial chain. This will help businesses increase their presence in both the international and Chinese markets. Like a convex lens that makes rays converge, such a cooperation model brings together the supplies and demands of various parties and converges their interests. It could be a new driver to sustain steady growth of the global economy.