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Private investment has been playing a vital role in China's economic development in recent years. It now accounts for 60 percent of China's gross domestic product (GDP), 80 percent of jobs, more than half of the tax revenue as well as 67 percent of China's direct outbound investment.

Since 2004, the EU has been China's leading trading partner.

At the plant, the Chinese president delivered a speech hailing the profound traditional friendship between the two countries and Serbia's successful experience in economic development which China had drawn on in the early days of its reform and opening-up.

The two countries should also enhance joint actions to address global issues and deliver more public goods, he said.

They decided to continue to strengthen mutual support on issues concerning their core interests such as territory, sovereignty and security, render strong support to each other in their choices of development paths, and enhance communication and coordination on major international and regional issues.