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Li's trip comes at a time when the countries are faced with protectionist headwind, and it bears special significance in forging regional consensus, said Xu Liping, a senior research fellow with the National Institute of International Strategy at the Chinese Academy of Social Sciences.

On the basis of equality and mutual benefits, and in the spirit of mutual understanding and mutual compromise, China is willing to properly resolve issues emerging in bilateral ties through friendly consultations with the United States, he said.

Xi reiterated the status and functions of private enterprises, adding that the sector has played an important role in developing the socialist market economy, transforming government functions, transferring surplus rural labor and tapping the international market.

"It is able to open up markets and improve the standard of living for our people," he said.

China will scrap all laws, rules and normative documents that go against the current opening-up policy by the end of 2019, Tang said.