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The report showed the leapfrog development the country's foreign trade underwent since reform and opening up, introduced the progress and existing difficulties in pushing forward the high-quality development of trade, and pointed out the key areas for the work in the future.

"Since the signing of a Memorandum of Understanding (MoU) on bilateral cooperation within the framework of the Belt and Road Initiative in 2017, the development of bilateral ties has ushered in a new stage," the ambassador said, adding that she believes Xi's visit will create fresh momentum to boost the relations.

Both sides should work together to promote all-round exchanges and cooperation between China and Latin American countries, uphold multilateralism, build an open world economy, and safeguard the legitimate development rights and interests of emerging markets, Xi said.

The Ministry of Commerce on Monday rolled out a general plan which listed four major tasks to build the demonstration center, namely forging a regional logistics center, building a modern trade center, promoting production capacity cooperation and constructing a center for two-way investment, and building a business, tourism and cultural exchange center.

Xi said China-India relations have entered a new phase of sound and stable development since his first informal meeting with Modi in central China's Wuhan city last year.