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China is the Philippines' top trading partner in 2017 with a total bilateral trade valued at .82 billion. China also ranked fourth biggest export market for the Philippines last year and the Philippines' top import source.

China has vowed to cut ineffective steel capacity by 30 million tonnes and coal capacity by 150 billion tonnes this year, according to this year's government work report unveiled last month.

China is promoting economic, political, cultural, social and ecological aspects of China’s modern civilization, which is also a vital part of a community of shared future of mankind, Xi said.

China is one of the world's most important markets for large gas turbines and is expected to intensify its investment in large gas turbine technology.

China has seen marked progress in poverty reduction in the past few decades, seeing the rural poor drop from 770 million around 1978 to 16.6 million by the end of 2018.