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"China-Africa cooperation, as an important and major part of the South-South cooperation, is proved to be successful," Macharia said, adding that it has shown to the world how the two sides, in different continents and being far apart from each other, join their hands to achieve common growth and prosperity.

China expects the participation of CEE countries in the development of the connectivity-based Belt and Road Initiative, and will support the integration of Europe and improve the Sino-Europe comprehensive strategic partnership relations, Xi said.

The G20, or the Group of Twenty, is a main forum for global economic and financial cooperation that brings together the world's major advanced and emerging economies, representing around 85 percent of global GDP, 80 percent of world trade, and two-thirds of the world population.

The third intergovernmental project emphasizes modern interconnectivity and mutual access as well as the modern service economy, which not only represents the latest trend in industrial development in China, but is also a major content of the Belt and Road Initiative, said Koh Chin Yee, CEO of the Longus Research Institute in Singapore.

China should take policies that could benefit both current and long-term growth to expand effective investments and consumption, and stabilize foreign trade growth, he urged.