Chinese President Xi Jinping delivers a speech during a banquet with Chinese and German business representatives in Duesseldorf, Germany, March 29, 2014. (Xinhua/Zhang Duo)

Chinese President Xi Jinping stressed Saturday that China's efforts to comprehensively deepen reform and further open up are bringing huge opportunities for bilateral cooperation.

The visiting Chinese president said he believes by joining hands and sincere cooperation, China and Germany will be able to achieve their own dreams, in an address to the two countries' entrepreneurs.

Economic and trade ties are the cornerstone and propeller of China-Germany relations, Xi said, adding deepening cooperation in economic, trade and financial sectors is one of the priorities of his ongoing state visit to Germany.

Noting that multiple cooperation documents have been inked between Chinese and German authorities, the president said it is a major positive signal to the enterprises of both countries, for it will further promote economic, trade exchanges and mutual investment, as well as play an exemplary role in China-Europe economic and trade ties.

Establishing the two "century goals," China will comprehensively deepen its reform to spur development. The country will lift its open economy to a higher level and push forward new-type industrialization, informatization, urbanization and agricultural modernization, said Xi.

China's sufficient internal impetus is driving the country's sustainable and stable growth, thus provides a huge market and opportunities for its cooperation partners including Germany.

Looking into the future, China needs "German quality," while Germany's growth requires Chinese market and "China speed," the president said.

Xi also made several proposals for future cooperation between the Chinese and German business sectors.

He urged the two countries' enterprises to optimize trade structure, develop targeted and complementary products that meet market demand, and increase the proportion of technology and service in bilateral trade.

Calling for expanding the sphere of and improving the environment for investment and cooperation, Xi underlined the need for creativity and openness in China-Germany practical cooperation.

Noting that the business sectors should view their cooperation from a global and long-term perspective, the Chinese president suggested that the German side give full play to its technological advantages, boost advanced technology trade to meet China's market demand, and continue to push the European Union to ease the restrictions on high-tech exports to China.

On trade and investment relations, Xi said the two sides should enhance communication, and resolve disputes through dialogue and consultation from a standpoint of reciprocity.

Talking about social responsibility, Xi called on business leaders of both countries to participate in public welfare activities while creating jobs and increasing revenues, thus make contributions to local social development.

Expressing appreciation for the Chinese and German business sectors' important role in the development of China-Europe relations, the president said he believes that steadfast efforts and sincere cooperation will make the two peoples' dreams come true.

Sigmar Gabriel, Germany's Vice Chancellor and Minister of Economics and Energy, and Hannelore Kraft, premier of the State of North Rhine-Westphalia, also addressed the audience.

They both agreed that Xi's visit has strongly pushed forward Germany-China ties and expressed confidence in China's future development.

The German side wishes to seize the opportunity and push bilateral trade and investment cooperation onto a new stage, said the officials.