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Du introduced the current economic and social development in China. He said, China is now paying efforts to create an upgraded economy by deepening reforms, accelerating the transformation of the pattern of economic development to enhance the quality and effeciency of the economic development.

The objective of the reforms is to improve and develop a socialist system with Chinese characteristics and push on with modernization of the country's governing system and capabilities, Xi said.

"The meeting is a new turning point of Chinese history," said Chi Fulin, head of the China Institute for Reform and Development, a think tank based in south China's Hainan Province.

Other participating leaders noted that the world economy now still faces risks and challenges and its recovery remains fragile.

U Nyan Tun welcomed Liu to attend the opening ceremony of the 27th Southeast Asian Games being hosted by Myanmar, and thanked China for providing technical assistance for the sports event.