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HANGZHOU, Sept. 3 (Xinhua) -- Global economic governance should be a mechanism of sharing while seeking dominance or winner-takes-all results should be avoided, Chinese President Xi Jinping said on Saturday.

Although the move does not necessarily lead to a final resumption of the project, it is a positive signal that the new leadership in Naypyidaw is handling its relations with Beijing in a prudent and pragmatic manner, analysts said.

The strategy, once adopted, will largely boost global trade and investment, Yi said. For example, G20 members have promised to reach an agreement on trade facilitation by the end of this year. The agreement will increase global trade volume by one trillion U.S. dollars each year, and create 21 million new job opportunities worldwide, including 8 million in developing countries.

Some overseas media outlets commented that China has "scored a diplomatic victory" as the arbitration ruling has not been mentioned in the statements issued by the Southeast Asian countries after this series of meetings.

"The Chinese leadership has always attached great importance to the welfare of disabled people and the cause of Paralympic sports. We hope you can spread the Olympic spirit, the spirit of Chinese sports as well as the spirit of Paralympics in Rio," said Liu.