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He called on the two countries to take the opportunity of the forum to synergize their strategies and boost substantial cooperation.

"China's growth is an incredible contribution to the global economy," said Klaus Schwab, the World Economic Forum (WEF) founder and executive chairman.

HKSAR political system is not separation of powers: top legislator

Compared with the government debt ratio of other major economies, this is still relatively low. Meanwhile, a large part of the newly increased debt took shape as the local government financing vehicles continued to implement the loan contracts signed in previous years or renewed contracts in accordance with the framework agreements since the implementation of the new Budget Law.

China expects to see enhanced coordination in multi-lateral frameworks such as the United Nations and the Arctic Council, said the president, pledging to expand arctic cooperation with Denmark.