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"Protectionism and unilateralism cannot shake countries' commitment to openness, cooperation and multilateralism," Yang said.

Xi and Modi reaffirmed that both sides will continue to maintain peace and tranquility in border areas and will work on additional confidence building measures through consultation, while urging the special representatives of the two countries to figure out a fair, reasonable and mutually acceptable solution to the border issue, according to Luo.

"Macao has maintained social stability," he said, noting that its average life expectancy has exceeded 80 years and that its primary healthcare system was commended by the World Health Organization as a model in the Asia Pacific region.

Hong Kong's economic achievements proved the success of China's policies, said Lo Wai-kwok, chairman of the Business and Professionals Alliance for Hong Kong. It is an important trading partner of the U.S. and the act could have a negative effect on the trade relationship between the U.S. and Hong Kong, as well as China at large.

As per the directive, an agreement between parties to a dispute that is reached through mediation presided over by financial dispute mediators shall have the nature of a civil contract.