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The second is to actively expand cooperation in such sectors as infrastructure construction, energy and mining, Xi said, adding the two sides need to explore new cooperation opportunities in areas such as agriculture, fishing, science and technology, investment and financing, telecommunications and new energy.

It is inevitable to see economic fluctuations, Li said, adding that a major task of macroeconomic control is to avoid sharp fluctuations and keep economic growth within a reasonable range.

New loans in foreign currencies increased by 13.6 billion U.S. dollars last month, with an outstanding account topping 767.9 billion U.S. dollars by the end of April, the figures showed.

The visit by the escort taskforce, composed of two frigates and one supply ship, is the first of its kind made to the nation by a Chinese naval fleet, said Li Xiaoyan, commander of the escort taskforce.

Overcapacity has led China's several sectors, including the steel industry, to the edge of losses.