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As long as the country maintains its strategic resolve, upholds the underlying principle of pursuing progress while ensuring stability, takes the supply-side structural reform as the main task and further pushes reform and opening up in all fronts, the country will speed up the transition to the track of high-quality development and embrace brighter growth prospects, Xi said.

Hosting the event is a major move to firmly support trade liberalization and open its market, as he said in the Johannesburg speech. "The expo will serve as a new platform for the world to access the Chinese market."

Both guests were impressed by the speed and Russian Prime Minister Dmitry Medvedev exclaimed: "So fast!"

Xi said that over the past year, Lam had led the HKSAR government to firmly defend the policy of "one country, two systems" and the HKSAR Basic Law and made plans for Hong Kong's long-term development.

"China's connection with over 50 million overseas Chinese nationals is a unique advantage in its development," Xi said, noting that overseas Chinese nationals should also share some credit in China's reform and opening up.