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Xi said China and Mali are good brothers sharing weal and woe, sincere friends and good partners in seeking common development. China will enhance practical cooperation with Mali in key areas of the country's development plan.

The country will cut the production permits for industrial goods by at least another one-third and simplify approval procedures for other permits so that corporate burden will be further reduced, according to the meeting.

A list of these products will be compiled and released to the public, and certification charges should be funded by public finance, according to the meeting.

The Chinese diplomat dismissed assertions that China is benefiting more from the cooperation with Africa, saying that China sticks to the principles of sincerity, real results, affinity and good faith in cooperation with Africa.

Now the world economy is picking up, but uncertainties and destabilizing factors are on the rise, posing challenges to economic globalization and multilateral trading regime, Hu said.