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"The share that goes to enterprises in the national income distribution needs to be increased to boost market vitality. This will help keep employment stable, expand tax sources and make public finance sustainable," Li said.

Stressing that China and Europe share far more common interests than differences, the Chinese president urged both sides to take the lead in upholding peace, development and win-win cooperation, and make the cake of cooperation bigger.

Participants agreed that to reach a new stage in the large-scale development of the western region, measures should be taken to focus on priorities, address inadequacies, and shore up points of weakness.

Wang said that China and Japan should make joint efforts to promote trade and investment liberalization and facilitation, uphold a business environment of fairness, justice and non-discrimination, speed up negotiations on the Regional Comprehensive Economic Partnership and China-Japan-ROK free trade agreement, and safeguard multilateralism and free trade regime.

The two sides reiterated their commitment to promote multilateralism and maintain the international system with the United Nations at its core. They agreed to oppose protectionism of any form, promote trade and investment liberalization and facilitation, maintain the World Trade Organization (WTO)'s central role and jointly push for necessary reforms to the WTO.