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Local governments should work to create an open and fair business environment and unleash economic vitality through eased approval procedures, the delegating of power to lower levels and improving services, according to the document.

In the past 25 years, the defining development of that era has been the growth of China, he said.

Some Americans consider themselves champions of the rule of the law, yet the United States remains a non-signatory to the UNCLOS passed in 1982, said Lu.

The Japanese side should take the security concerns of its Asian neighbors seriously, act with prudence in the military and security fields, and stick to the path of peaceful development, Hong stressed.

Meanwhile, China furthers its South-South cooperation, a mechanism to promote trade and collaboration among developing countries, and reaches out to developed ones.