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China is considering a 3-billion-U.S. dollar investment fund and a "16+1" multilateral financing channel to reduce investment costs. "As long as CEE countries use products and equipment made by China, China will provide financing support," Li said.

Li said that efforts should be paid to synergize and integrate China's Belt and Road initiative and the ROK's Eurasia Initiative, China's mass entrepreneurship and innovation and the ROK's strategy for a "creative economy," the "Made in China 2025" initiative and the ROK's "3.0 strategy for manufacturing innovation", as well as the two nations' efforts to explore third-party markets in the production capacity cooperation.

"Both sides will exchange views on improving bilateral relations," Hong said, adding that China is reluctant to see the difficulties in China-Philippines relationship.

"We are going to cooperate with China whether in modernizing agriculture, infrastructure, energy, training of the young people and culture," Dlamini Zuma said.

He expressed belief that the achievements will lay a solid foundation for a good start of the 13th five-year plan.