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Liu, who is also the vice chairman of the National Committee of the Chinese People's Political Consultative Conference, said since establishment of diplomatic relations 46 years ago, bilateral relations between the two countries have been developing steadily and healthily.

Xi attaches great importance to the functions of theory, stressing theoretical confidence and strategic composure must be strengthened.

We need to stay focused on promoting results-oriented economic cooperation, and expand converging interests in trade and investment, currency and finance, connectivity, sustainable development, innovation and industrial cooperation. This year, we have formulated the BRICS Trade in Services Cooperation Roadmap, the Outlines for BRICS Investment Facilitation, the BRICS E-Commerce Cooperation Initiative, the BRICS Action Plan for Innovation Cooperation and the Action Plan for Deepening Industrial Cooperation Among BRICS Countries. We have launched the African Regional Center of the New Development Bank (NDB), decided to set up the BRICS Model E-Port Network and reached extensive agreement on taxation, e-commerce, local currency bond, public-private partnership, and the network of financial institutions and services. Our practical cooperation has become more institutionalized and substantive, and delivered more tangible results.

"All parties should exercise restraint and work together to maintain peace and stability on the Peninsula," said Foreign Ministry spokesperson Hua Chunying at a daily press briefing when commenting on the missile launch by the Democratic People's Republic of Korea (DPRK).

HAMBURG, Germany, July 7 (Xinhua) -- Chinese President Xi Jinping on Friday delivered a speech at the 12th Summit of the Group of 20 (G20) major economies.