China to stick to 'mutual respect' in dealings with world: Xi

Chinese President Xi Jinping said on Wednesday that China will always stick to "mutual respect" in its efforts to deal with global challenges.

Xi made the comment during a visit to Portugal, the last stop on a trip that included a meeting of G20 leaders in Buenos Aires, where China and the United States agreed to negotiate a solution to their trade war.

"Even though the world is facing many challenges, China will always adhere to mutual respect and peaceful development, promote peace and stability," Xi said in a short speech.

He added that during his trip he had felt people's aspirations for "peace, stability, prosperity and a better life".

During Xi's two-day visit to Lisbon, Portugal and China signed a memorandum of understanding on cooperation on Beijing's belt and road initiative - which promotes expanding land and sea links between Asia, Africa and Europe, with billions of dollars pledged for infrastructure development.

His visit reinforced China's strong presence in the Iberian country, particularly as an investor in sectors from energy to banking.

The memorandum covers a wide range of sectors, especially digital connectivity and electric mobility, according to a statement from the Portuguese prime minister's office.