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The two sides should have the consensus that the fundamental issue of improving China-ASEAN cooperation lies in enhanced strategic mutual trust and good-neighborly friendship, and the key to such a partnership is to focus on economic development and seek mutual benefit and win-win results, he said.

According to the memorandum of understanding, courts and commercial banks will establish an exclusive channel to share lists of the names of defaulters.

Under current circumstances, the Chinese president said, BRICS nations should jointly tackle the spill-over effect of the developed economies' loose monetary policy.

The 46-year journey of bilateral relations has been fraught with difficulties, and the experience gained over these years should be treasured. Just as Chinese Foreign Minister Wang Yi said that the most important foundation of China-ASEAN relations is the region's peace and stability that we have jointly preserved, the most important consensus is to facilitate common development through cooperation, and the most important experience is to stick to the "Asia Way" and the "ASEAN Way" and resolve differences through friendly consultation and equal-footed dialogue.

BEIJING, Dec. 13 (Xinhua) -- Chinese Foreign Minister Wang Yi on Friday exchanged views with his Russian counterpart Sergei Lavrov on further development of China-Russia ties and high-level exchanges between the two countries next year.