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The development of the private sector will also be encouraged, with financing services for small and medium-sized businesses to be improved and investment access for private capital to be relaxed.

"Though the Philippines cleverly packaged its claims by not directly mentioning the word 'sovereignty,' any discerning person will discover at first sight that this is only a trick," said Ma Chengyuan, an international law professor at China University of Political Science and Law (CUPL).

The region's equipment manufacturing sector will be modernized, and high-end industries, the modern service sector and modern agriculture will all be supported, it said.

Zeman, referring to China as "a major economic partner" of the EU, said that his country is committed to becoming a gateway for China to the EU and a hub of transportation, logistics and finance in China-EU trade by joining hands with China in deepening mutual trust and playing a conducive role in pushing China-CEE cooperation forward.

The premier also urged transforming government functions to improve social equality and justice and stronger supervision to tackle illegal activities, also a requirement for transforming government functions.