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Xi said efforts should be made to ensure that China stays on the path of socialist rule of law with Chinese characteristics.

Stressing the need to deepen cooperation on the digital economy, Xi said China and ASEAN could create more highlights of cooperation in such areas as smart cities, 5G, artificial intelligence, e-commerce, big data, blockchain and telemedicine, and strengthen the protection of data security and policy communication and coordination.

"Commercial endowment insurance shall be vigorously developed. In the past few years, new industries and new business models have emerged as China deepens reform of government functions and encourages entrepreneurial and innovation activities nationwide," Li said.

Reforms on both supply and demand sides should be carried out to achieve a dynamic equilibrium on a higher level, in which demand and supply can boost each other, said the statement.

China will endeavor to make breakthroughs in some key and core technologies, he said.