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The "Shanghai Spirit," a set of fundamental principles encompassing mutual trust, mutual benefit, equality and consultation, "could essentially be regarded as an antidote" to these approaches, said Deepak.

During his visit to the MOC, Li said it is necessary to actively improve the environment for foreign investment and to spread nationwide the good experiences of pilot free trade zones in opening-up, so that China continues to be a hot spot of investment.

There is only one China in the world and Taiwan is an inalienable part of China's territory. It has been a universal consensus of the international community to adhere to the one-China principle, a fundamental prerequisite as well as political foundation for China to establish and develop relations with any country.

Chinese Foreign Ministry spokesperson Lu Kang said ahead of the meeting on April 24 that the two sides agreed that an informal meeting would be a good idea so that the two leaders can have in-depth exchanges on major issues of common concern in an appropriate atmosphere.

"People should understand that capital is needed to start a business, money borrowed must be paid back, and there are risks in investment and prices to pay for wrongdoing," Liu said.