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The two sides should work together to elevate their economic and trade cooperation to a new level, and expand cooperation on cultural Silk Road, in a bid to bring greater benefits to the two peoples, jointly respond to the challenges facing the world today, and lift the bilateral ties to a new height, he added.

After the founding of the People's Republic of China in 1949, May 4 was formally designated as China's Youth Day.

Saturday's data also show that the producer price index (PPI), which measures costs of goods at the factory gate, edged up 0.1 percent year on year in February, unchanged from the growth recorded in January.

Putin made the remarks here during a meeting with visiting Chinese State Councilor and Foreign Minister Wang Yi.

Meanwhile, more measures will be launched to relieve SMEs' financing difficulties, including cutting targeted reserve requirement ratio for inclusive financing, creating more financing channels and encouraging SMEs to receive financing on the "new third board."