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The latest free trade agreements (FTAs) between China and the Republic of Korea (ROK), and between China and Australia, shows that a "grand free trade strategy" is taking shape, bringing the nation closer to establishing a global free trade network and implementing deeper domestic reforms.

Through China's governmental and non-governmental promotion, cultivation, defense and maintenance in several dynasties, the South China Sea has become a tunnel, a platform and a network to lead neighboring countries to realize common prosperity in trade and economy.

Meanwhile, Russia is paying close attention to the construction of a high-speed railway between Moscow and Kazan, the capital and largest city of Russia's Republic of Tatarstan, Putin said.

The two heads of state also vowed to increase financial support for major cooperation projects between the two countries.

The government will promote new urbanization to unleash domestic demand and beef up infrastructure development such as flood-prevention and city utility tunnel projects, Li added.