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Ingves echoed Li saying the committee and financial supervision institutions of other countries will strengthen cooperation with China to jointly maintain global financial stability, prevent risks, promote the development of real economy and push forward the recovery of world economy.

A day earlier, Shoigu met with Chinese Premier Li Keqiang and held talks with his Chinese counterpart Chang Wanquan.

The latest development came in November after President Xi Jinping announced China would set up a Silk Road fund worth 40 billion U.S. dollars to support infrastructure, resources, industrial and financial cooperation and other projects related to connectivity for countries along the "One Belt and One Road."

Hu called the establishment of the institute a win-win initiative in the history of Central Asia regional economic cooperation, and expressed the hope that future collaboration would take advantage of the construction of the Silk Road Economic Belt and speed up regional economic integration.

China, Li said, will ensure a normative, fair and transparent business environment and treat Chinese and foreign enterprises alike in terms of market access, policy support and protection of legitimate rights.