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China plans to reduce steel capacity by 100 million to 150 million tons during 2016 to 2020.

China neither attaches political strings to its investment in Africa nor intervenes in the internal affairs of other countries, nor does it come up with demands that are against the will of others, Xi said.

China thinks that Iran deserves reasonable rewards while it continues to fulfill its obligations under the plan of action, he said.

China plays an increasingly important role in promoting world economic cooperation and development.

China vowed to keep its prudent monetary policy "neither too tight nor too loose" and make counter-cyclical adjustments in a timely and moderate manner, the central bank said Friday in its second-quarter monetary policy report, adding that the country will not resort to flood-like stimulus policies.