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"The reform and opening-up is a great awakening of our Party, and it gave rise to great theoretical and practical innovations," he added.

In late October, Xi came to Guangdong Province. He visited a reform-themed exhibition at the foot of the Lotus Mountain in Shenzhen, spending more than an hour inside the museum halls.

For those willing to start a business, the ministry proposed reforms on startup education at colleges, more guidance and services including financial support.

After the talks, the two leaders watched the signing of a number of bilateral cooperation documents in areas including culture, economy, people's livelihood, advanced materials, telecommunications, third-party markets cooperation, education and finance.

China will further reduce administrative approvals and expand market access for private businesses, encouraging them to enter the infrastructure sector and ensuring fairness of competition, Li said.