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He also called for enhanced cooperation in education, youth, tourism, and the Winter Olympics to consolidate the popular foundation of friendship.

Wang said China believes that the EU's strategic autonomy should embody upholding multilateralism and opposing unilateral dominance; pursuing openness and cooperation and opposing man-made "decoupling;" making independent foreign policies according to the norms governing international relations and opposing confrontation among different blocs and a new "Cold War."

The COVID-19 pandemic, mounting unilateralism, protectionism, as well as a backlash against economic globalization weighed on the region's economy, which has seen its first negative growth in decades. The prospects of Asia-Pacific cooperation is crucial to regional development, people's livelihoods, and the world's future.

He added that the two sides should enhance the synergy between their development strategies and fully unleash the upgrading potential of their free trade agreement.

China's financial institutions are projected to save enterprises 1.5 trillion yuan (about 229.5 billion U.S. dollars) this year through measures to boost the real economy.