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With a vast potential and a broad prospect for their practical cooperation, China and Russia should upscale cooperation in economy and trade, investment and energy, implement major manufacturing cooperation projects, strengthen high-speed rail cooperation and push for an early start of the Moscow-Kazan high-speed railroad project, said Xi.

The central bank also pledged to effectively use monetary policies and finance tools to guide more institutions to contribute to poverty alleviation.

In his speech, Xi explained the theoretical and practical questions regarding adherence to and development of socialism with Chinese characteristics.

China appreciates Thailand's active participation in the Belt and Road Initiative, and is willing to strengthen cooperation with Thailand in areas of investment, railways, Internet finance, digital economy and e-commerce, Xi said.

"Investment into these industries has witnessed better performance than the company's overall investment portfolio," he said.