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The G20 will make an action plan on implementing the 2030 Agenda for Sustainable Development and launch an initiative to support the industrialization of Africa and the least developed countries, the foreign minister said.

"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 regards Pakistan as an important partner in the Belt and Road Initiative, and the construction of the China-Pakistan Economic Corridor will lay a solid foundation for the shaping of a community of shared destiny for the two nations, he said.

In recent years, China-Pakistan relations have maintained a strong momentum and the two countries have witnessed progress in practical cooperation and people-to-people and cultural exchanges, Xi said.

The importance of private investment cannot be overemphasized. The private economy regularly contributes more than 60 percent of GDP growth and provides over 80 percent of jobs.