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Yang Hongxu, deputy head of the Shanghai-based E-House China R&D Institute, said the July inflation was "in a very comfortable range."

The Brazilian president touched upon the many areas in which the two countries cooperate, such as energy, with Chinese companies participating in oil exploration off Brazil's Atlantic coast, and banking, with the Bank of Brazil opening its first branch in China, and three Chinese banks operating in the South American country.

"The bilateral relations are currently at the best in history," said Qu Xing, president of the China Institute of International Studies.

Besides, the two countries reiterated their joint position of denuclearization of the Korean Peninsula, calling for efforts to create conditions for resumption of the stalled six-party talks.

Li said that the country should combine long and short term goals, deal with current challenges and resolve long-term problems.