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"We always seem to compartmentalize these two things, but it is really well integrated. China is actually trying to advance that agenda," Ramos said.

On the South China Sea issue, China has taken a constructive approach, and calls on regional countries to find solutions through consensus building on the basis of respecting history and the international law. This led us to concluding the Declaration on the Conduct of Parties in the South China Sea (DOC), an anchor for peace and stability in the South China Sea for over ten years. In the past couple of years, there has been suggestion and call from relevant countries for advancing the consultation of a COC, which can be viewed as continuation of the DOC. China has taken a positive approach to this process. I believe that regional countries have the capability to maintain peace and stability in the region and the wisdom to address the existing issues. Just as provided in the DOC, it should be the sovereign states directly concerned to peacefully resolve their territorial and jurisdictional disputes through friendly consultation and negotiation. We have also put forward the idea of shelving disputes and pursuing joint development. These are the principles that China has all along followed.

Li said that while the country has seen much progress in promoting PPP in the past two years, a variety of institutional barriers still hinder PPP development.

"Now the farce is over. It is time that things come back to normal," said Wang.

Over 60 countries have publicly expressed their understanding and support for China's position.