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The two sides will start reviewing the China-Australia FTA (ChAFTA) chapters on service trade and investment, as well as a memorandum of understanding on investment facilitation this year, according to the statement of intent.

Meanwhile, economic cooperation with China has been vital to job creation in the United States, the U.S.-China Business Council said in a report in January. Bilateral trade and investment supported some 2.6 million jobs in the United States across a range of industries in 2015, while Chinese products also help lower costs for U.S. consumers.

These grassroots heroes are from Shanxi, Guangdong, Hunan, Fujian, Guizhou, Sichuan as well as other provinces and cities.

During Xi's two-day trip to the southeastern U.S. coastal town of Palm Beach, the leaders of the world's top two economies compared notes on a wide range of topics for more than seven hours altogether and agreed to expand win-win cooperation and manage differences on the basis of mutual respect.

Wu Weijun, a senior partner at PwC, said all the top five cities occupied front seats in at least four indicators, which demonstrates the importance of balanced development.