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The forum's three parallel sessions, with a focus on trade and opening up, trade and innovation, and trade and investment, respectively, will discuss such major issues as the new impetus for economic globalization and the liberalization and facilitation of trade and investment, Fu said.

The consensus was reached during a meeting between visiting Chinese President Xi Jinping and Portuguese Prime Minister Antonio Costa.

The initiative has also to a large extent benefited development in the Asia-Pacific region by expanding infrastructure as well as trade and cultural exchanges.

Xi called on the two sides to advance high-level exchanges, strengthen exchanges between the two governments, legislative bodies, political parties, local areas and non-governmental bodies, and deepen political mutual trust, in efforts to cement political foundation for friendship.

During the spending binge on Singles' Day, which takes place on Nov. 11 each year, China's online retail sales exceeded 300 billion yuan (about 43 billion U.S. dollars) this year, up about 27 percent and reaching a record high.