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Financial support will be increased for safeguarding rural residents' security of housing and transportation as well as drinking water safety.

In a bid to push forward financial cooperation, China hopes Paris could play an even bigger role in the cross-border transactions of the Renminbi, China's currency.

In his address at the UK-China Business Summit attended by visiting UK Prime Minister David Cameron, Wang noted that the United Kingdom was the first developed country to have achieved industrialization, while China is the largest developing country.

Irina Bokova, Director-General of UNESCO, also attended the opening ceremony and delivered a speech.

Former World Bank chief economist Justin Yifu Lin said the move would help clear distortions and bottlenecks in the economy, and boost development through comparative advantage.