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China is the world's largest trader of goods as well as the second-largest economy.

China has successfully hosted more than 120 activities of the SCO since it assumed the rotating presidency of the organization, Xi said.

China is expected to enact stronger measures, such as additional tax cuts and incentives for consumption and investment, to bolster the national economy next year, a stance that may be clarified at the annual priority-setting Central Economic Work Conference, analysts said.

China in April said it aims to raise foreign ownership limits in securities, fund management and futures firms to 51 percent. The announcement came as the US and other trading partners complain of unfair limits on competition.

China is catching up fast with advanced economies in adopting and fostering the internet of things or IoT to make manufacturing more efficient and competitive, said the head of China operations of a global consulting firm.