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Mariscal also expected more fiscal policies and further expansionary monetary policies from China as China's central bank has already lowered reserve requirement ratio by 100 basis points so far 2019 with 83 billion U.S. dollars injected to the banking system.

Saying China-ASEAN relations have entered a new phase of all-around development, Xi stressed the launch of the China-ASEAN Year of Media Exchanges represents an important move toward intensifying their strategic partnership.

Xi Jinping, general secretary of the CPC Central Committee, Chinese president and chairman of the Central Military Commission, addressed the session, while other Party and state leaders, including Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning, Zhao Leji, and Han Zheng, attended the meeting.

MOSCOW, Jan. 16 (Xinhua) -- Russia and China enjoy a "very confident progressive development of relations in all areas," Russian Foreign Minister Sergei Lavrov said Wednesday.

"The excessively fast growth of macro leverage ratio has been checked, financial risks have generally retreated, and initial success has been achieved in amending financial dysfunction," the People's Bank of China, the central bank, said in a report last month.