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With an annual growth rate of 6 percent to 7 percent, China' s economy each year can add the volume equivalent to a medium-sized economy, Li added.

He also announced that his talks with Chinese leaders and business leaders resulted in public financing agreements and private business deals valued at billions of U.S. dollars in soft loans.

Since the summit's creation in 2007, it has become an important platform for mutually beneficial cooperation and common development of China and LAC nations, Li said in the speech.

Meanwhile,signing ceremony of tender contracts for the second phase of the China-Laos railway project was held in Vientiane. The signing included 11 contracts on civil engineering, construction supervision and third-party testing.

Yao, who only completed primary school, was sentenced to three years for organizing and taking advantage of a cult and causing death. She is currently serving her prison sentence in the provincial capital of Wuhan.