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As long as both countries adhere to friendly dialogue and consultation, China and the Philippines can have candid exchanges on everything, manage differences well, carry out cooperation and shelve problems that are difficult to agree on, for a while, Xi said.

Having said all this, we should not lose sight of the downward pressure the Chinese economy still faces. To keep the economy stable, we need to not only maintain aggregate demand, but also speed up supply-side structural reform to improve the quality and efficiency of the supply system. Now, there is certain talk about risks in China's debts and the property market. These issues should be viewed objectively and put into perspective. The debt risk in China is controllable overall. The main problem now is unbalanced debt structure. China's government debt ratio is relatively low among major economies with merely 16 percent for the central government. Though the ratio at the local levels is higher,borrowing by local governments is getting better regulated, and used mainly for development, rather than welfare handouts. Most debts are asset-backed and generate returns. The problem with leverage mainly lies in relatively high leverage ratio in non-financial companies. This is closely related to fledgling and not mature state of China's capital market, high propensity to save with the savings rate above 50 percent, and a financing structure with banks in a predominant position. China's debts are mostly internal and the share of external debts is low. Hence the likelihood of debt risk is also small. Our monetary policy is prudent, ensuring reasonably sufficient liquidity. And the commercial banks have high capital adequacy ratio and provision coverage ratio. Their non-performing assets ratio, despite some increase, is far below the world's average. They have strong ability of risk compensation and loss absorption. Going forward, we will gradually bring down non-financial corporate leverage ratio and address hidden risks by developing multi-tiered capital markets, raising the share of direct financing and promoting corporate mergers and restructuring.

Premier Li's trip to New York last month yielded positive results and was beneficial to U.S.-China ties, Paulson said, stressing that the Paulson Institute was ready to enhance exchanges and cooperation with China.

ABOARD TIANGONG-2, Oct. 19 (Xinhua) -- Today is the first day that our flight crew moved into the space complex for the Shenzhou-11 mission. It is 10:05 p.m. now, and we haven't finished our work yet.

Uncertainty and risks, including elections in major economies, uncertain fallout of Brexit, rising expectation for rate hikes by the Federal Reserve, increased geopolitical risks and terrorist attacks, could have significant repercussions for the global economy and international financial markets, said Lou at a press conference after the G20 policymakers concluded their meeting in Washington.