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Xi was responding to a letter written to him by 24 academicians at CAS and the Chinese Academy of Engineering in June last year.

Xi said the two countries made a major step in synergizing their visions — the Belt and Road Initiative and the Two Corridors and One Economic Circle — and people in both countries felt a growing sense of gain from the development of bilateral ties.

Xi Jinping, general secretary of the CPC Central Committee, made clear the challenge when he set out the session's agenda.

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Xi said both countries should work hard to seek common ground, eliminate differences and properly tackle their disagreements.

Wuhan University in Hubei province recently expelled 92 overseas students for low grades or breaking school rules.

Xi cited the growth could be achieved from increased trade of mechanical and electrical and hi-tech products, smooth investment cooperation, deepening financial cooperation, the rapidly growing farm produce trade, the Far East development cooperation on a faster track, and a steady progress in strategic cooperation projects and cross-border infrastructure construction.

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Wu said the major competitive edge of Chinese cross-border e-commerce is in its convenient payment methods and advanced logistic services.

Xi made the remarks when meeting with Spanish King Felipe VI at Zarzuela Palace in Madrid.

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Xi said he hopes the institute will help draw on both sides' academic resources, enhance understanding and friendship between the Chinese and the African people, and provide good ideas and advice for China-Africa cooperation as well as the cooperation between the two sides and other parties, to contribute to the development of the China-Africa relationship and the building of a community with a shared future for humanity.

Wu, who founded Anbang in 2004, was placed under investigation in June after a multibillion-dollar string of global acquisitions by the insurance and investment conglomerate prompted questions about how it paid for its buying spree, including the billion Waldorf Astoria purchase in 2015.