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Experts believe that the more active role in multilateral venues tally with the development of China's approach to foreign policy.

BEIJING, May 22 (Xinhua) -- Chinese Premier Li Keqiang has demanded less red tape, improved regulation and better services to promote sustained and healthy development of the economy.

The pact, signed by the two governments in 1996, provides that the investment on each other's territories cannot be nationalized, confiscated, or be affected by any measure that has the similar effect as nationalization. In case of nationalization for the public interests, the process should be done legally and investors should be compensated.

There have been great changes in the countryside since the fledgling days of reform and opening up in China. Farmers now have brighter prospects thanks to socialism with Chinese characteristics, Xi said.

The four countries agreed that the territorial disputes over some islands, rocks and shoals in the South China Sea are not an issue between China and the Association of Southeast Asian Nations (ASEAN) as a whole which should not affect the development of China-ASEAN relations, Wang told a press conference.