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Experts said that the important meeting sends a positive signal in the development of China-U.S. relations, one of the most important bilateral ties in the world.

In his article titled "Open Up a New Future Together for China-Philippine Relations," Xi called on the two countries to elevate all-round cooperation under new circumstances and design an overall plan for greater progress in their relationship towards a higher level.

The economies should strengthen cooperation and help developing countries eliminate poverty so that people in all countries will live better lives. "This is what fairness is essentially about," Xi said.

The year 2018 also marks the 200th anniversary of Karl Marx's birth. China's successful practice has injected new vitality into the classic theory named after him.

China attaches great importance to the meeting. Chinese President Xi Jinping attended the meeting and delivered a keynote speech. Xi proposed focusing on openness, development, inclusiveness, innovation and a rules-based approach, strengthening international cooperation, improving global economic governance and handling common challenges, Wang said.