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"We should continue to streamline administrative approvals, delegate power to lower levels and improve regulations and services in the field of science and technology to further reduce constraints," he said.

Regarding the two countries' efforts at implementing third-party market cooperation within the framework of the Belt and Road Initiative, Lu said that China and France aim at jointly contributing to the development of developing countries by improving their infrastructure and launching projects of production.

Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks at the fifth meeting of the Central Committee for Financial and Economic Affairs. He is also head of the committee.

The three-day event will focus on promoting the reading of Chinese classics nationwide and spreading fine traditions of Chinese culture.

Noting that China-U.S. relations have once again come to a crossroads, the top diplomat said that China and the United States must turn to history to look for inspiration and guidance for their relations in the next 40 years.