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The two sides should take concrete actions to maintain the multilateral world order with the United Nations (UN) Charter and principles at the core, and uphold free trade and the multilateral trading system, said Xi.

Each era faces problems of its day. Problems themselves are not to be afraid of; what truly matters is for us to take a right approach to resolve the problems. Resorting to old practices such as protectionism and unilateralism will not resolve problems. On the contrary, they can only add uncertainties to the global economy. Only openness and cooperation can bring more opportunities and create more space for development. This is a well proven historical fact. One who chooses to close his door will only cut himself off from the rest of the world and lose his direction.

Over the last 40 years, China has been growing at a fast pace, and is now in competition with the world's leading industrialized countries, said Fischer, who visited China 10 times between 1974 and 2017.

"People-to-people exchanges will be made a priority in the hope of benefiting both sides," Xi said.

BUENOS AIRES, Nov. 30 (Xinhua) -- Leaders of the emerging economies' bloc BRICS declared their common stand on the reform of the World Trade Organization (WTO) here on Friday.