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The country will strengthen its efforts to preserve the environment and strive to build a beautiful China, he continued.

The initiative, proposed by Xi in 2013, consists of the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

The Belt and Road initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was first promulgated by Xi in 2013, who envisioned a trade and infrastructure network that connects Asia with Europe and Africa along the ancient Silk Road routes. Over 70 countries and organizations have voiced support for and willingness to join the initiative.

Along with the development of the BDS project and service ability, related products have been widely applied in communication and transportation, marine fisheries, hydrological monitoring, weather forecasting, surveying, mapping and geographic information, forest fire prevention, time synchronization for communication systems, power dispatching, disaster mitigation and relief, emergency search and rescue, and other fields. These products are gradually penetrating every aspect of social production and people's life, injecting new vitality into the global economy and social development.

The Fed should communicate better with China and financial markets on its interest rate decisions, China's Vice Finance Minister Zhu Guangyao said Thursday, noting that the world's two largest economies should also strengthen policy coordination and cooperation.