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Wang said South Korea is an important member of the Group of 20 (G20) and China welcomes South Korean President Park Geun-hye attending the G20 summit to be held in the eastern Chinese city of Hangzhou on Sept. 4-5.

Venture capital has also contributed greatly to the commercialization of innovation and scientific research findings, and it plays an increasingly important role in China's economic upgrading.

Ugandan Ambassador to China Charles Madibo Wagidoso told Xinhua on the sidelines of the forum that Chinese companies have great potential for investing in Uganda's oil and gas sector.

"Presently, China is promoting the Belt and Road Initiative and is further opening up to the outside world. If Myanmar can realize domestic peace, it can take a free ride on China's rapid development," said Lei Zhuning, a researcher with the Yunnan Academy of Social Sciences.

China is willing to share experience with Laos in fields such as drawing development blueprints, tourism development and agricultural disaster prevention, Li said. He also pointed out that the two countries should strengthen customs and quality control so as to increase convenience of port customs clearance, improve people-to-people exchanges in cultural, media and educational fields, and promote cooperation in defense and law enforcement in order to maintain regional security and stability.