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"The strategy is transparent, open, and non-discriminatory. Not only Chinese companies but also foreign firms can participate in it," Wang said at a press conference.

The Vietnamese side is willing to closely cooperate with China in actively implementing the consensus reached between leaders of the two countries, he said.

In sum, policymakers in some Western countries should pull their heads out of the sand to find better answers to their long-standing socio-economic problems and stay open-minded. This may not be easy, but it is necessary.

"Our SOEs should, through reform and innovation, become front-runners in pursuing high-quality development," said the report. Reforms introducing mixed ownership in SOEs will be carried forward prudently.

Fu made the remarks at an MSC panel discussion about the nuclear security, on which some participants expressed their concerns over nuclear proliferation at present.