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He said that despite the contentious issues of human rights, cyber security and territorial disputes in Asia, the leaders of China and the U.S. have cooperated on climate change, denuclearization of the Korean Peninsula, the Iranian nuclear program and economic cooperation, where the "continued dialogue between the two presidents is essential."

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.

Prior to his China trip, the prince visited Japan.

Iraq has given high priority to enhancing ties with China and is willing step up cooperation with China in the fields of energy, telecom, agriculture and scientific research, they said.

"The prospect of China outbound tourism is bright," Shi said, adding that it would benefit not only economies in destination countries, but also mutual understanding, and cultural exchanges.