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They also advised greater participation by the country's legislators in lawmaking and supervision procedures and better research to ensure efficient supervision and solutions.

China could raise its budget deficit to 4 percent of GDP or even higher to support broader reforms, Sheng wrote, adding that the deficit increase would not incur big insolvency risks for the government.

Don Pramudwinai echoed Wang, and said LMC played an important leading role in regional development. He pledged to work with China and other parties to make the first leaders' meeting a success.

China is facing more challenges this year and SOEs should play an important role in economic and social development and focus on improving quality and efficiency, he said.

This visit also marks my first trip to a Central and Eastern European country (CEEC) as China's president. With our deep-rooted friendship, political good-will and popular support as a strong basis, China and CEECs launched "16+1" cooperation, which has since made solid progress. Over the past four years, under the principles of mutual respect, mutual benefit, inclusiveness and openness, China and CEECs have built new cooperation mechanisms and platforms. Thanks to these efforts, China-CEECs cooperation is entering a maturing phase and delivering early harvests. Our cooperation on the "Belt and Road" initiative and efforts to strengthen synergy between China and the EU in their development strategies will create even greater impetus and potential for "16+1" cooperation.