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China should turn innovation achievements into actual productivity at a faster pace, and the foundation of innovation is talents, said Xi.

This was the first time a group of Chinese company representatives met with their European counterparts at the headquarters of the European Commission "which sends an important political signal that both sides are committed to bolstering their existing ICT partnerships going forward," read a statement by ChinaEU, an international association promoting business ties between the two regions.

He also called for close monitoring of the global energy market, improvements to oil reserve systems, accelerated development of unconventional energies and reforms to gas, oil and energy pricing.

In a world facing volatile economic situation, we should all work to promote opening-up and innovation. What has happened since the outbreak of the international financial crisis seven years ago proves that to work in unity is the surest way for countries to get over the difficulties. We are all interdependent in this world. While we each have the right to adopt economic policies in line with national conditions, we need to strengthen macro-policy coordination to expand the convergence of interests and achieve common development. An European proverb says, "when the wind of change blows, some build walls, while others build windmills." We need to act along the trend of our time, firmly advance free trade, resolutely reject protectionism, and actively expand regional economic cooperation. We need to build global value chains, and seize the opportunity of a new technological revolution. While the international community agree on the importance of macro-policies to the economy, they also recognize the urgency to go ahead with structural reform. Structural reform must be carried through no matter how difficult it is, as it is an effective way to foster conditions conducive to global innovation and bring about new momentum for global development.

The island's investment regulator said the Chinese Internet giant's Taiwan branch had registered as a Singaporean company but was in fact a mainland company, thus violating rules governing mainland companies. The regulator said it would have to quit the island and be subject to a fine of 120,000 (about 3,800 U.S. dollars).