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SINGAPORE, Nov. 7 (Xinhua) -- China and Singapore aim to lift up their already-close ties with a new strategic framework and through more practical cooperation, as Chinese President Xi Jinping ended a two-day visit to the city-state on Saturday.

China is drafting its 13th five-year plan on economic and social development. It will adopt a new development approach featuring innovative, coordinated, green, open and shared development to achieve its ambitious blueprint for a moderately prosperous society in all respects. In the next five years, annual growth rate needs to be kept above 6.5 percent. At this rate, our per capita GDP will reach around 12,000 U.S. dollars by 2020. That will be close to the level of high-income countries according to World Bank standard and allow us to basically avoid the middle-income trap. If achieved, it will mark another milestone in China's modernization process, offer even more development opportunities for CEEC and other countries, and make new contribution to global economic recovery and world peace, stability and prosperity. China will open up at a higher level, promote our equipment, technologies, standards and services around the world, and ease market access in finance, education, health care, old-age care and other fields. As we open up even wider, we would be happy to see CEE countries share in the dividends of China's prosperity and development.

Ma declared that the conflict and confrontation between the two no longer exist, calling on both sides to resolve their disputes through peaceful means.

Reforms of fiscal policies, financial mechanisms and state-owned enterprises should be deepened to push economic restructuring, Li noted, stressing the roles of innovation and entrepreneurship in bringing out economic vitality.

BEIJING, Nov. 4 (Xinhua) -- China's top legislature on Wednesday ratified the Asian Infrastructure Investment Bank (AIIB) agreement, which establishes the legal framework for the bank.