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The academic believes that to boost growth, countries should enact measures on the demand and supply side both.

BEIJING, July 28 (Xinhua) -- Businesses and financial institutions from China and Africa signed a total of 39 deals worth around 17 billion U.S. dollars here Thursday.

Li did not include the issue in his keynote speech at the start of the two-day summit. However, faced with certain nations' attempts to stir up tension and interfere in the South China Sea issue in the summit, Li expounded China's stance of non-acceptance of and non-participation in the arbitration proceedings, as part of his diplomatic offensive.

Any attempt to reverse the trend of peace and development in East Asia is destined to fail. Whether major powers outside the region or one or two East Asian countries, they should come to realize the real situation in the area and change their way of thinking to get on well with China and the ASEAN countries for sincere cooperation.

To save the Philippines from breaching its own commitment to bilateral negotiations, Liu said, the tribunal "belittled and nullified the Declaration on the Conduct of Parties in the South China Sea (DOC) reached between China and ASEAN countries."