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For his part, Renzi said Italy highly appreciates China's development achievements, and intends to actively participate in the Belt and Road Initiative,

The two countries should enhance cooperation in the fields of finance and infrastructure construction, and promote bilateral cooperation of small- and medium-sized enterprises, which would provide necessary support for cooperations between the two countries' major enterprises while stimulating the market vitality, Li said.

China would also join hands with Russia to consolidate the recovering and stabilizing momentum of bilateral trade, and promote cooperation in major projects of oil, natural gas, civilian nuclear energy, and aerospace, Li said.

"As the international military competition situation experiences profound changes, and national interests and military missions develop, logistical construction is becoming an increasingly crucial factor that affects wins or losses in battle... and occupies a key place in the development of the Party, the country and the military," Xi noted.

Homes are for living in rather than speculation, the conference stressed, proposing to use financial, land, taxation, investment and other instruments to establish a fundamental and long-term system to curb real estate bubbles and market volatilities.