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The visit is meant to consolidate the stability and strategic nature of the China-Italy relations in the long term, and comprehensively elevate the level of their mutually beneficial cooperation, Xi said.

"This development follows the establishment in 2017 of the so-called Bond Connect, which allows foreigners to enter the Chinese bond market, as well as the authorities' recent commitments to further develop and open the market," Rhee said in his opening remarks at the event.

The world is undergoing major changes rarely seen in a century, and humanity stands at a crossroads, and for China, France and Europe, they also come to a critical stage of development, the Chinese president said.

The meeting called for steps to reform and innovate the operation and management model in these zones to improve the business environment. The zones will be supported to implement a simpler approval process for investment projects and the practice of pre-commitment of compliance.

Air France-KLM, a major global air transport player, entered the Chinese market after establishing a repair workshop in the 1990s. But over the years, it has struggled to find a local partner to expand its business in the country, partly due to China's restrictions on foreign capital.