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China still needs investment in a number of areas, such as environmental facilities, suburban railways and underground structures, given its low level of percapita capital stock compared to advanced countries, the report said.

China stands ready to join hands with ROK to push for the healthy and steady development of bilateral ties, Xi said, as good bilateral ties are in accordance with the trend of history and time, as well as the common expectation of the two peoples.

China will also deepen cooperation to improve bilateral military ties, enhance coordination with Germany on international and multilateral programs, and jointly maintain regional and world peace and security, Xu added.

China welcomes the positive message issued by Washington and Pyongyang about their direct dialogue, Geng Shuang, foreign ministry spokesman, told a daily news briefing in Beijing on Friday.

China pledged to keep a close eye on the unfolding impact of the United States' tax overhaul, which was passed by the Senate on Saturday, and it called for more tax policy coordination under the global governance framework.