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"The emerging economies lack experience in international governance and hadn't well grasped the opportunity in 2008, in the worst days of the financial crisis, to rebuild the global financial system," said Wang Wen, executive dean of the Chongyang Institute for Financial Studies at the Beijing-based Renmin University of China.

For his part, the Egyptian prime minister spoke highly of the speech Xi made at the opening ceremony of the FOCAC summit, adding that the speech would produce more fruitful China-Africa cooperation.

"If that respect is preciously valued at the bilateral ties, and enhanced by political trust, then there is no obstacle before a solid cooperation that will certainly benefit both countries and advance ties further," he said.

"The current crisis is far more complex than any of the previous crises, and it can not be fixed overnight," said Xi, noting that a multi-pronged approach is required to overcome the crisis.

As regards the broader China-Africa ties, Xi said China is willing to join hands with African countries to support each other and advance together along the path of development.