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China and France also pledged to set up a steering committee and to strengthen their collaboration in exploring third markets.

The two countries are expected to strengthen ties in the post-sanctions era, with investment and financial cooperation facilitating the bilateral relationship.

The summit which was scheduled for Nov. 23 and 24 this year in the northern German city of Hamburg delivered discussions, keynote speeches and panel meetings focusing on various topics, such as the fallout from Brexit, China's economic transition, the Belt and Road Initiative and boosting efficiency in industrial manufacturing.

"We look forward to establishing more cooperation relationships with the region in energy, infrastructure, agriculture and tourism," said Jorge Heine, rotating president of the Pacific Alliance and Chile's ambassador to China. "We also welcome more companies from western China to invest in Latin America."

"China has become our largest trading partner and we consider China as a trusted partner in realizing our dreams too. China is the leading generator of many of our mega-projects in terms of finance, capitalization and technology," she said.