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During the visit, the two Leaders held a bilateral meeting, wherein they recalled the history of friendly exchanges between China and the Philippines, charted the course for the future of China-Philippines bilateral relations, had in-depth exchange of views on regional and international issues of common interest, and reached important consensus.

"Openness brings progress while seclusion leads to backwardness," Xi said.

The upcoming CIIE has shown China's willingness to increase import and further expand its opening-up, Xi said, adding that he is glad to see many U.S. companies enthusiastically participate in the event.

Experts said that China's reform and opening-up not only is a milestone in the country's history but also holds global significance.

He said the two countries should implement cooperation projects under the Belt and Road Initiative, accelerate the second-phase negotiations of the bilateral free trade agreement, expand the fields of pragmatic cooperation and achieve mutual benefits and win-win results.