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Speakers and panelists will include Alibaba's Jack Ma, co-founder of Microsoft and chairman of TerraPower Bill Gates, and Jose Angel Gurria, secretary-general of the Organization for Economic Co-operation and Development, according to CIIE's official website.

"China's economy is truly performing well within the reasonable range, giving us a solid foundation for delivering the development goals for the whole year," Xi said.

Merkel, for her part, hailed the sound development of the Germany-China ties, saying that the two countries have maintained high-level exchanges and seen smooth advancement of communication and cooperation in various fields.

Goro Takahashi, professor at Aichi University, said that promoting free trade is in the interests of both countries as well as the region, and that the two sides should uphold the free trade system by cooperating with other countries in the region and set a good example for the world.

The Chinese president also expected the two countries to expand pragmatic cooperation, enlarge and strengthen existing projects, enhance bilateral trade and create more cooperation aspects for further growth.