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There are high hopes for this year's summit, as it seeks a transformation from crisis response, which focused on short-term policies, to one of long-term governance, which shapes medium- to long-term policies.

Wang thanked all African countries for their open endorsement of China's position on the South China Sea issue, saying China "deeply appreciates such valuable political support."

The foreign minister said China always welcomes the development and rise of India, and supports India to play a more positive role in regional as well as international affairs. The development of both China and India is conducive to the better balance and stability of world powers, he noted.

Opening of the economy is a key feature of modern China, and the opening of capital markets and other financial markets has played an important role in boosting the Chinese financial sector's international competitiveness and ability to serve the real economy, Li said.