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The poor infrastructure in many Asian countries has hindered their development and the AIIB, if established officially by the end of this year, would facilitate financing of infrastructure construction for these countries, Huang said.

Xi affirmed, Chinese, alongside Russians, will defend the peace and history "written with blood and lives," promote development and make greater contributions to building a community of common destiny.

Meanwhile, China's engagement with Africa is changing. After decades of helping African countries build infrastructure and providing aid, China has seen more companies in Africa expand their presence in other wider fields such as agriculture, transportation and environmental protection.

He suggested China continue on this track and make the G20 a more inclusive place for non-G20 countries.