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Xi noted that the China-Singapore traditional friendship, promoted by mutual learning and cooperation, has reaped rich fruits.

The Belt and Road Initiative, proposed by China in 2013, refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It aims to build a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

China has set a target to build a moderately prosperous society in all respects by 2020, including complete eradication of poverty. The task becomes more difficult as the process nears its end.

For many, the unfading faith in striving for better lives has driven them to overcome the odds.

BEIJING, July 12 (Xinhua) -- Chinese banks extended 7.97 trillion yuan (about 1.2 trillion U.S. dollars) of new yuan-denominated lending in the first half of the year, but broad money supply growth has continued a downward trend, the country's central bank said Wednesday.