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Xi said he wishes the tourism event held by China and Pacific island nations in 2019 a success.

The key is that all parties concerned should meet each other halfway, show flexibility, continue their talks and make the talks yield results, Xi added.

According to Panamanian President Juan Carlos Varela, establishing diplomatic ties with China was "the right thing to do." The decision was lauded by Xi as "a feat of a hero."

"Having served as our country's window to the world in the past 40 years, Hong Kong is a beneficiary of the country's reform and opening-up. The city has successfully transformed herself into an important bridge linking the mainland and the global market," she noted, adding that Hong Kong has established and reinforced its present position as an international commercial, logistics, shipping, financial and professional service center.

The minister added that China is not only a big exporter of goods, but is also transforming to an even bigger buyer.