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Noting China is forging a new development paradigm of a "dual circulation," where the domestic and overseas markets reinforce each other, with the domestic market as the mainstay, Xi said China would stay committed to expanding opening-up. He added that China would integrate itself into the global market more actively to share development opportunities with all countries and contribute to the global economic recovery.

Chheang Vannarith, president of the Phnom Penh-based Asian Vision Institute, said the annual ASEAN-China Expo is one of the key features of ASEAN-China partnership and deepening ASEAN-China economic cooperation contributes to regional economic recovery and the enhancement of an open, inclusive and rules-based multilateral system.

Those at the meeting also decided that the inclusive credit loan support program will be extended from the end of this year as appropriate. Concessional financial support at 40 percent of the loan principal will continue to be given to eligible local banks for their issuance of inclusive credit loans to micro and small enterprises.

As the world is now facing a number of challenges, with the COVID-19 pandemic among the gravest ones, the responsibilities and actions of the G20 will be even more important, said Abdulaziz Alshaabani, a Saudi journalist and China expert.

All parties attending the meeting spoke highly of the important progress achieved in various fields of SCO cooperation, and expressed their belief that the SCO has become an important platform for promoting the development of all member states and maintaining regional peace and stability.