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On foreign trade, Xi stressed expanding imports while stabilizing exports to promote balance of payment under the current account.

Supporting Africa's development is conducive to promoting balanced and inclusive world economic growth, he said, calling on the G20 members to jointly implement the initiative agreed at last year's summit in Hangzhou, China, on supporting the industrialization of Africa and the least developed countries.

BEIJING, Aug. 17 (Xinhua) -- Chinese President Xi Jinping on Thursday said he expects military relations would become a major stabilizing factor in Sino-U.S. ties.

As an ancient Chinese saying goes, "A partnership forged with the right approach defies geographical distance; it is thicker than glue and stronger than metal and stone." We owe the rapid development of BRICS cooperation to our adoption of a right approach. Guided by this approach, we have respected and supported each other in following the path of development suited to our respective national conditions; we have pushed forward economic, political and people-to-people cooperation in an open, inclusive and win-win spirit; and we have worked in unison with other emerging market and developing countries to uphold international justice and equity and foster a sound external environment.

China will accelerate developing laws and regulations governing the financial sector, improve macro prudential management and emphasize functional as well as behavioral regulation, according to Xi.