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Bounnhang, also general secretary of the Lao People's Revolutionary Party Central Committee, said Laos is ready to work closely with China to make new progress in building a community with a shared future for the two countries.

In 2018, taxes and fees levied on enterprises and individuals were reduced by around 1.3 trillion yuan as a result of multiple preferential tax policies introduced by the government.

China adheres to the protection and inheritance of its fine traditional culture, promotes exchanges and mutual learning between Chinese and foreign civilizations, and contributes to the progress of human civilization, he added.

Xi noted that as next year marks the 50th anniversary of China-Italy diplomatic ties, the two sides will hold year of culture and tourism in each other's country, and they will embrace new opportunities in cooperation in various areas.

Both sides agreed that they have broad common interests in deepening mutual beneficial and win-win practical cooperation, share common ground on upholding multilateralism and an open world economy as well as opposing protectionism and unilateralism, and have common goals in improving global governance and maintaining world peace and stability.