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The Chinese premier proposed expanding bilateral trade to 100 billion US dollars annually before 2015 and enhancing cooperation in ocean, telecommunication, technology, energy and agriculture.

To boost lending to the private sector, China should allow private capital to play a bigger role in financial institutions, and encourage private lending companies with good operating conditions to transfer into commercial banks which could also take in deposits, said Wu Xiaoling. Wu is a former deputy central bank governor and now vice-chairman of the National People's Congress Financial and Economic Affairs Committee.

More efforts will be made to boost reform in the power sector and provide high-quality power services to Chinese citizens, Wu added.

-- Investigations and studies were conducted in the past year on how to stimulate the development of Taiwan-funded small and medium-sized enterprises and promote cross-Strait agricultural cooperation.

Li noted that the Israeli settlement is a major obstacle for the resumption of Palestinian-Israeli peace negotiation.