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Ahead of the summit, government officials and scholars, among others, from both countries expressed optimism about a positive result in the BIT talks.

"Cooperation in innovation industry would be a new highlight in China-UK cultural cooperation, as China is boosting mass entrepreneurship and innovation and Britain has advanced experience in this field," Ruan said.

According to official data from 2014, China had over 212 million people above the age of 60, and 137 million above 65, accounting for 15.5 percent and 10.1 percent of the population, respectively.

During his meeting with the British prime minister, Xi pointed out that the relationship between the two countries is now much more than bilateral but of strategic significance and global influence.

By the first half of 2015, China's service sector represented 49.5 percent in the country's total GDP, higher than a 43.7 percent share of the industrial sector.