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The government will also further cut red tape and streamline approval procedure, improve business environment, and make bigger efforts in attracting foreign investment. The use and protection of intellectual property rights will be strengthened and government compliance oversight will be reinforced.

BEIJING, July 19 (Xinhua) -- China is buttressing the Made in China 2025 strategy with new national-level demonstration areas to spur the development of smart, green and service-oriented manufacturing.

BRICS countries should strengthen their collaboration and coordination on major global and regional issues to provide wisdom and efforts of BRICS for resolving the issues, Yang said.

In the latest demonstration that BRICS is a task force that gets things done, the president announced China will launch an economic and technological plan for BRICS countries with 500 million yuan (about 76 million U.S. dollars) for the first term to facilitate exchanges and cooperation in the economic and trade fields.

Xi also stressed that the two countries should stick to mutual respect and win-win cooperation, expand practical cooperation in various fields and strengthen coordination on international and regional issues, so as to keep China-U.S. relations healthy and stable.