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Russia is willing to strengthen pragmatic military cooperation with China in various areas and, with China, safeguard world peace and stability, the Russian defense minister said.

Investment and financing cooperation is growing exponentially. Ecuador is a top destination for Chinese investment and financing in Latin America. Chinese investment and financing in Ecuador has exceeded 10 billion U.S. dollars, supporting several hundred projects including major infrastructure projects such as the Coca Codo Sinclair hydropower plant, seven other hydropower plants and a dozen highways. Once up and running, these projects will equip Ecuador with a powerful locomotive and engine to propel its development further. We appreciate Ecuador's trust in Chinese companies, equipment and technologies.

World trade will grow more slowly than expected in 2016, expanding by just 1.7 percent, well below the April forecast of 2.8 percent, recording the slowest pace of trade growth since the financial crisis of 2009, according to the latest WTO estimates.

Latest figures show the market is stabilizing, with total floor space of sold apartments in major Chinese cities in November experiencing the first year-on-year decline in 21 months.

The year 2017 will be crucial to deepening reforms, Xi said when addressing the conference.