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The report offers some suggestions for the first time, such as an Electronic World Trade Platform initiative, a SMART innovation initiative to encourage entrepreneurship and innovation, as well as developing green finance and investment market.

Over the past eight years, China has risen to become the world's second largest economy.

Xi inspected an incubator park established with cooperation between Ningxia and Zhejiang Province, encouraging more enterprises to join poverty relief efforts in western China.

In order for the world economy to break away from the slow-growth rut and realize sustainable development, many experts agree, the G20 needs to further strengthen international macro-policy coordination and shift its primary function from crisis response to long-term governance.

Noting that China-South Korea relations face difficulties and challenges at present, Wang called on both sides to cherish more what they have achieved and not to allow fruits of cooperation between the two countries to be affected or damaged.