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Zhao Yang expects a detailed roadmap of the initiatives this month. He says the plan should help mitigate the severe overcapacity problem in upstream industries and boost overseas investment, led by policy financial institutions and large State-owned enterprises (SOEs).

The two-day first ministerial meeting of China-CELAC Forum concluded in Beijing on Friday.

China and the ROK began FTA talks in May 2012. President Xi Jinping and his ROK counterpart Park Geun-hye confirmed in Beijing last November a substantive conclusion in negotiations.

"Since Professor Holslag studies diplomatic history of China, he should know that in 1949 when the CPC replaced Kuomintang as the ruling party, China had territorial disputes with all its neighbors on lands. The PRC government has managed to settle disputes peacefully through diplomatic negotiations with 12 neighbors out of 14 in total," he said, adding that "there is no proof in history to say that China is not able to resolve territorial disputes but will have to resort to war."

In recent years China has sent high-ranking Chinese officials to the conference, in which they have discussed comprehensively with other participants on topics about international security policy, anti-terrorism, regional security situation and global governance, and this has played an important role in enhancing mutual understanding and cooperation, Yang said.