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Li acknowledged that the economy still faces heavy downward pressure and imbalanced regional development. The Chinese economy grew 7.4 percent year on year in the first quarter, marking the weakest pace in 18 months. The country aims for an annual growth rate of around 7.5 percent for 2014.

"The fruitful energy cooperation has helped lift the general level of practical cooperation between the two countries," Zhang said.

His current Latin America tour will also take him to Cuba.

Zhang said the Chinese government encourages domestic companies to invest in the Czech Republic and will work with the Czech government to create favorable environment for and actively promote cooperation between the two countries' companies.

The Chinese vice premier also urged the two countries to further expand cooperation in investment, trade, finance, transport, culture, tourism, high technology, aviation and aerospace, agricultural produces, housing, infrastructure development and local governments, while carrying out even more large-scale strategic projects that is oriented to the future, add new content and impetus to the comprehensive bilateral strategic partnership and make active contribution to the common development of the two countries and to peace and stability of the world.