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New vitality has been injected into the country's real economy through fintech innovations. Digital credit has substantially increased the availability of inclusive financing by performing intelligent risk control with big data, which reduced reliance on collateral, said Guo.

In a phone conversation with his Russian counterpart Sergey Lavrov, Wang congratulated the Russian side on successfully hosting the meeting of the Council of Heads of State of the Shanghai Cooperation Organization and the BRICS summit via video link which have achieved fruitful results.

Stating that China is still the biggest developing country in the world, Li stressed the fundamental role of development. It will open up at a higher level, establish the new development paradigm, and promote high-quality development, he said.

It called for efforts to educate members of the armed forces through Xi's thinking on strengthening the military to make sure the military stays absolutely loyal, pure and reliable.

The two sides, Xi said, should deepen the alignment of their development strategies and take China's construction of a new development pattern and the formal signing of the Regional Comprehensive Economic Partnership as an opportunity to steadily propel the construction of the China-Laos Economic Corridor and China-Laos Railway, expand cooperation in various fields such as culture and education, youth and tourism, and strengthen coordination in international and regional affairs.