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In order to build such a framework, countries need to engage in more extensive dialogues at all levels, she added.

Experts and entrepreneurs attending the Summer Davos forum in northeast China's Dalian between Wednesday and Friday believe reforms and innovation will be the focus of the plan.

"Such adjustment was also made as part of China's ongoing reform efforts," he noted.

Qian Feng, vice president of Thailand's newspaper Asian Daily, said that Xi reiterated in his speech that China will never seek hegemony or expansion, and this reflects a traditional view in the Chinese culture and its firm resolve and confidence that China will take the path of peaceful development.

The Chinese economy is growing at a proper rate, government debt risks are controllable and the yuan will not experience a prolonged depreciation, the premier said as he met with business leaders at the annual meeting of the New Champions, also known as the Summer Davos Forum, in northeast China's port city of Dalian.