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Facing complicated economic situations, the State Council has introduced various measures, such as to streamline administration and delegate powers to lower levels, to facilitate trade and investment and to free interest rates, while not expanding deficits, not loosening or tightening money supply, said the statement.

One official in southwest China's Chongqing Municipality admitted he was talking too much and doing little, like "a shop owner leaving his business to employees."

In the seven-point proposal, Li said "the two sides should launch negotiations on upgrading their free trade area and strive to bring bilateral trade to one trillion U.S. dollars by 2020 so as to allow ASEAN countries to benefit more from regional integration and China's economic growth."

On Tuesday, Xi visited Qufu City, the birthplace of ancient philosopher Confucius, or Kong Zi. His teachings centered on peace and social harmony.

During the visit, the two presidents held extensive and in-depth talks and reached important consensus on bilateral relations as well as global and regional issues of common concern.