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When answering questions about China's economy, Li explained major economic targets this year, including a 7.5-percent GDP growth, an increase of over 10 million people in urban employment and a 3.5-percent CPI rise.

SOFIA, July 23 (Xinhua) -- Bulgarian Ministry of Economy and Energy (MEE) and the Development and Reform Commission of east China's Anhui Province signed first Memorandum of Understanding on Economic Cooperation, officials said Wednesday evening.

The two heads of state are also expected to work together to lay out the course of future development of bilateral relations, said Qu Xing, head of the China Institute of International Studies.

In a joint communique issued by the two countries on Saturday, both countries expressed their respect for each other's independence, sovereignty and territorial integrity.

The BRICS countries now account for 21 percent of global economic output and have contributed more than 50 percent of world economic growth in the past decade.