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Singh suggested that BRICS still very much remains a good alternative to existing institutions as it offers a new model of financial governance and is even helping transform conventional Bretton Woods financial institutions. He said the NDB and Contingency Reserve Arrangement are proof of what BRICS can and is doing with their rapid decision-making, financial support in local currencies, and no-strings attached policy.

China reserves its rights under the WTO dispute settlement mechanism, and will take the necessary measures to protect the rights of Chinese companies, it said.

The report on inspection said that the government will further promote innovation-driven development, with an evaluation system to monitor the environment for innovation and entrepreneurship set to be established. The incentive mechanism for the commercialization of scientific and technological progress will be improved.

"I hope trains in my country can match this kind of speed, convenience and high concentration of technology," Nyunt said.

MANILA, Nov. 15 (Xinhua) -- Chinese Premier Li Keqiang said Tuesday that China is willing to join regional countries in writing a new chapter for East Asian cooperation.