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In another ten years, northeast China should become the manufacturing base for advanced equipment and a strategic base for technological equipment. The region should become synonymous with new raw materials, modern agriculture and innovation.

During a visit to the State Administration of Taxation and the Ministry of Finance on Friday, the premier hailed the expansion of the VAT scheme, which began in 2012 to replace business tax with VAT in certain industries, as a major step in China's structural reform.

Wang and Lavrov made the statements during a meeting between them in the day. Wang is visiting Moscow to attend the 14th meeting with participation of foreign ministers of China, Russia and India.

"We face up to the difficulties and challenges, will continue to play well the tremendous resilience, potential and space to maneuver of the Chinese economy, and constantly push forward reform and opening up," Li said.

China is striving to advance economic structural reform and foster a more open economy, Xi said. "China will provide convenience for foreign businesses, institutions and individuals to have exchanges and cooperation with China."