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China issued a policy paper on the European Union on Tuesday in which it pledges to work with the bloc to promote and practice multilateralism.

China will also further harmonize policies and enhance the synergy between economic corridors to fully leverage their role in boosting the economy so as to build a "more close-knit community of shared destiny" in the sub-region and open a brighter future for the sub-regional development, he said.

China should also intensify efforts to clear out zombie enterprises, or weak businesses that are not viable, usually in industries with severe overcapacity and kept alive only with aid from the government and banks, according to the financial work conference.

China will continue opening-up, shorten negative list: Ning Jizhe

China supports Germany in hosting a successful G20 summit and hopes more positive outcomes can be achieved on the basis of last year's summit in Hangzhou, China, and a "Hamburg hallmark" can be left on global economic governance.