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The EU side is ready to conduct strategic dialogue with China to expand consensus in a candid manner, they noted.

The national security legislation for Hong Kong is an essential step to safeguard national sovereignty, unity, territorial integrity and the foundation of "one country, two systems." Only when national security is ensured can "one country, two systems" and Hong Kong's stability and prosperity be guaranteed.

While joining hands to combat the pandemic, Xi added, the two countries should promote all-round cooperation in a flexible manner, and ensure the smooth implementation of those projects they have agreed upon within the framework of the Belt and Road Initiative.

"As a matter of fact, these were the factors that led to the fall of Hong Kong's international rankings in the past year. The U.S. has its own national security legislation, but we have never heard that such legislation affected the economic development and business environment of the U.S."

Stronger efforts were urged to bring down the lending and corporate bond rates, make concessional-rate loans, defer loan repayment for micro, small and medium enterprises, and support the issuance of un-collateralized loans to small and micro companies, reduce fee-charging from banks