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"China and the Philippines must join hands to uphold the interests of the developing world, resist protectionism and unilateralism, and promote peace, stability and prosperity in our region and beyond," Xi said.

"China is not a developed country, but China has been very active in contacting those countries in suffer of natural disasters," he said.

"China is taking the lead in the area of internet economy where there is huge room for cooperation," said David Liao, president and CEO of HSBC China, at a recent forum held by the multinational banking and financial services institution in Beijing on the China-ASEAN economic corridor.

"China promises a bright future to researchers now, especially in the area of energy storage. The gap between China and the US is smaller and smaller and China has been investing heavily in scientific research," he said.

"China has been rolling out policies for capital market reforms since October, aiming to facilitate the move of funds from parties with excess capital to parties needing funds－the core function of securities firms," said Ma Kunpeng, an industry analyst with mainland-listed SWS Securities.