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BRICS, which groups Brazil, Russia, India, China and South Africa, has not only boosted economic growth in its member states and jointly generated about one fifth of the world's Gross Domestic Product (GDP), but has also contributed new ideas and strategies to global governance.

China is now rigorously promoting the innovation-driven development strategy and has brought up an initiative called "Made in China 2025," encouraging more and more people and companies to pursue innovations so as to accelerate the structural transformation in the Chinese economy and to lift the economy to a higher level, Li said.

Premier Li promised to leaders of the CEE countries that when Chinese equipment and products are used, China is ready to provide preferential financing support.

In the 20-point statement, China and Singapore also agreed to cooperate in many other areas including finance, transport and info-communications, social governance, leadership and official training, science and innovation, culture, environmental and water conservation, agriculture and food safety, and among others.

China's 13th Five-Year Plan, which seeks to double 2010 GDP and the per capita income of both urban and rural residents by 2020, aims to keep China's annual GDP growth rate at 6 to 7 percent, he said.