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China will further bring down its overall tariff level, strive to remove non-tariff trade barriers, and slash institutional costs in imports, he said, adding that China will make the second China International Import Expo a success.

When meeting with the Pakistani president, Wang said China and Pakistan are "iron friends." Throughout the past 68 years since the establishment of diplomatic ties, the two countries have always respected and supported each other on issues concerning each others' core interests, forging the sincerest friendship.

China needs to reduce people's savings rate from around 25 percent to a lower level by building a sound social safety net, according to Gill.

Yan Zhitao, deputy secretary-general of the foundation, said the project started reaching out to foreign recipients last year and would expand this year to help overseas pupils in need.

Noting that China and Japan are close neighbors separated by only a narrow strip of water, Xi said the friendship between the two countries is rooted in the people, and that the future of the friendship between the two peoples is in the hands of the young people.