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The Belt and Road Initiative, proposed by Xi in 2013, refers to the building of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road. It is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

Sun, from the defense and military perspective, elaborated on the new governance model.

This makes China the first donor to AIIB special fund, which will support members with project preparation, Jin said at his opening statement during the bank's first annual meeting of the board of governors, which began Saturday morning in Beijing and will last until Sunday.

BELGRADE, June 18 (Xinhua) -- China and Serbia pledged Saturday to continue joint efforts for putting the Hungary-Serbia railway into operation as scheduled.

Looking ahead, the Chinese economy has huge potential, strong advantage, broad space and bright prospect. China has a 900 million strong workforce, among whom 170 million have received higher education or training in professional skills. Every year we produce over seven million college graduates and over five million graduates from secondary vocational schools. We are No.1 in the world in terms of the number of science professionals and No.2 in R&D input, with an input of over RMB 1 trillion made last year. China is the second biggest economy, the largest manufacturing country, a major trading nation in goods and services, and a major destination and source of foreign investment. It is also the world's second largest consumer market. Its middle-income population is in the hundreds of millions and is still expanding. The number of the rural poor is falling year by year, while that of permanent urban residents is growing by over 10 million each year. All these make China a major emerging market with the biggest growth potential. It makes China a big stage where people from every corner could tap into their intellectual potential and start their business. We are optimistic about the current state and future prospect of the Chinese economy. Optimism is a sign of confidence, and in market economy conditions, confidence guides people's expectations. This in itself generates powerful strength.