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The two sides held discussions on issues including the promotion of next-step practical maritime cooperation and the possible establishment of technical working groups.

The initiative was first envisioned by Chinese President Xi Jinping in 2013 to create a new platform for international cooperation. Nearly four years later, the plan came to a crucial juncture this past weekend with the Belt and Road Forum for International Cooperation.

He said the navy should improve overall fighting capacity by combining the "mechanization and informationization," promoting both offshore and high sea forces and balancing operations on the water surface, below the sea and in the air.

A number of Chinese economists believe that the economy stabilizing is an "irreversible" trend and that the country is capable of maintaining medium-high growth for a long time to come as many economic indicators have been positive this year.

Li said that China hopes the two countries could work together to offset global uncertainties with a stable bilateral relationship, so as to send positive signals of stability, cooperation and development to regions and the world at large.