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Maintaining healthy development of the economy is a major task for the whole party, said Xi. He urged using new concepts to guide development and making efforts to address structural and mechanism issues and problems that hinder development.

Serbia and China "in spite of geographic distance, incomparable size of territories, population and economic potentials, do respect each other, do share values of peace stability and win-win cooperation," therefore they have wide area for bilateral and international cooperation, he added.

"The weight and growth of the Chinese economy will have an impact on other countries in the world, so I think other countries are looking to China to do what it can to maintain its rapid growth, which is way above the western economies," he explained.

"Under no circumstance will the arbitration award exert any impact on China's territorial sovereignty and maritime rights and interests in the South China Sea," Li added.

The current weak performance of the world economy brings opportunities and challenges for the economic development of China and Africa, Xi said, adding that China and Africa must "stand shoulder to shoulder and march forward hand in hand."