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Many members, especially the developing economies, have clearly defined their position to fight against trade protectionism and safeguard the development interests and space of developing countries, said Wang.

Regarding WTO reform, Wang said it should be prohibited to pursue protectionism in the name of reform.

China is ready to work with Singapore to set up cooperation platforms for connectivity, financial support and third-party cooperation, so as to upgrade economic and trade cooperation and deepen financial cooperation, Li told more than 1,000 people from Singapore's economic and business circles.

The Chinese president said such moves will lead to a new phase of China's opening-up to the outside world, and therefore bring new opportunities for bilateral cooperation.

Xi highlighted at the meeting that China is a champion of Asia-Pacific cooperation and has taken concrete steps to promote cooperation on the ground.