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China's financing cooperation with Ecuador is conducted on the basis of equality, mutual benefit and business principles, without attaching any political condition, said Xi.

Political advisors at the session addressed China's shortcomings in basic research, admitting that major problems such as the lack of original innovations, elite talent, research teams and favorable environments for research, although many achievements have been made.

Six years ago, when Xi was elected general secretary of the Communist Party of China (CPC) Central Committee, reform entered what many people call a "deep-water" zone. The CPC faced arduous challenges in reform, some foreign media claimed.

In Buenos Aires, Argentina, Xi will also attend the 13th Group of 20 summit.

The PBOC said the deal aims to safeguard domestic financial stability.