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The second China-U.S. Climate Leaders Summit will be held in Beijing next year, Xie said.

He said the International Chamber of Commerce (ICC) forecast that the agreement will boost global exports by over 1 trillion U.S. dollars, while the Organization for Economic Co-operation and Development (OECD) expects it could reduce worldwide trade costs by between 11 percent and 14 percent.

If the goal can be achieved, it will be good for the people of China and the United States, as well as for world peace and development, said Xi when meeting with a group of U.S. business leaders and former U.S. officials.

Viewing the new project "a strategic cooperation project between the two countries," both sides expressed the hope that the cooperation could form a network and play a big role in the social and economic development in the vast western part of China.

As a big economy, a big consumer and a big trading country, "anything that China does or anything that happens in China affects the whole world both economically and financially as well as in other ways."