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An old building in Tianjin. [Photo/VCG]

And since Chinese and EU leaders are exploring ways to develop practical avenues for mutually beneficial cooperation, including a China-EU co-investment vehicle, Katainen needs to concretize this idea.

Analysts expect such efforts will be helpful to assuage concerns over downward challenges, though it may take time to see them take effect.

Analyzing the root causes of the sluggish global economy and the problems for which globalization has been made the scapegoat, Xi pointed to a lack of robust driving forces for global growth, inadequate global economic governance, and uneven global development, Wang said.

Analysts believe China's recent moves will bring in overseas capital, technologies and talent, which will likely help upgrade local industries.