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When it comes to choosing a development path for a country, no one is in a better position to make the decision than the people of that country, he said.

Another substantial outcome of the visit, according to Li, is that China and Singapore have lifted the Guangzhou Knowledge City, an exemplary program in bilateral cooperation, to a national-level project.

Noting that the Asia-Pacific region has the fastest growing economy in the world with the largest potential, Xi said the only correct choice for the era is peace, development, cooperation and win-win.

The cooperation between the two sides is open and transparent without any political conditions, not targeting any third party, not seeking any private interest or so-called "sphere of influence," so that it can stand the test of time and history as well as the assessment of international community, Wang said.

In an effort to advance the supply-side structural reform, China should fix weak areas, promote industrial upgrading and move more boldly to cut taxes and fees, Li said.