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-- The next decade will see a profound reshaping of the global governance system. The world is moving toward multi-polarity and greater economic globalization amid setbacks. Geopolitical hotspots keep emerging, and the dark shadow of terrorism and armed conflicts still haunts us. Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism and the multilateral trading regime. The international community has reached a new crossroads; and we are facing a choice between cooperation and confrontation, between opening-up and a close-door policy, and between mutual benefit and a beggar-thy-neighbor approach. Thus, the evolution of global governance system will have a profound impact on the development of all countries, particularly emerging markets and developing countries, and indeed on the prosperity and stability of the whole world.

He encouraged ROK enterprises to take the opportunities of China's further opening-up and its economy moving to a high-quality development period to enhance cooperation with China and expand investment in China especially in the central and western parts of China.

The two teams worked independently from each other.

Xi stressed that the CYLC must focus on three fundamental issues: nurturing socialist cause builders and successors; consolidating and expanding the basis of the Party's governance among the young people; and focusing on the central task and serving the overall interests of the country.

"We have codified a robust IPR protection legal system, including setting up IPR courts and dedicated tribunals that enhance the dominant role of the judiciary in IPR protection," he said.