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Xi also called on enhancing military cooperation as well as coordination on multilateral arenas.

China highly values its relations with Singapore, and is ready to work with the Southeast Asian country to enhance bilateral partnership step by step, said the Chinese leader.

Xi also stressed that rules in the judicial sector should be respected and modern technology should be introduced in judicial reform.

"They supported improving the fiscal framework to increase local government autonomy, reduced the scope for off-budget spending, and centralized some expenditure responsibilities." the statement said. "They also called for completing the transition to a modern price-based monetary policy framework."

"There are good conditions for cooperation in creating transport corridors -- railways, highways and ports -- through the territory of Russia, connecting the markets of China and Europe," he said. "I'm convinced that Xi's forthcoming visit ... will bring us closer to the goal of 200 billion dollars' trade volume by 2020."