During the first China-Arab States Summit, President Xi Jinping vowed to advance cooperation on economy, security and energy following a meeting in the Saudi Arabian capital of Riyadh on Friday.

Hailing the summit as a milestone in the history of China-Arab relations, Xi said in his keynote speech that the friendship has nurtured the spirit of "solidarity and mutual assistance, equality and mutual benefit, and inclusiveness and mutual learning."

Xi called on the Arab states to carry on the spirit extolled at the summit and strengthen the solidarity and cooperation with China, as well as foster a closer China-Arab community with a shared future in the new period of turbulence and transformation in today's world.

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The two sides will focus on the development of the economy, while strengthening synergy between strategies on traditional areas such as trade and energy, as well as in new resources of growth including low-carbon development and digital economy.

At the summit, the China's president put forward eight major cooperation initiatives over the next five years to develop support on food security, public heath, green innovation, inter-civilized dialogue, youth development and security and stability.

According to the proposals, China will be involved in 5 billion yuan-worth ($718 million) of plans, while enlisting 30 development projects into the Global Development Initiative.

It will also commit to a zero-tariff on 98 percent of the tax items for the most undeveloped Arab countries, while providing humanity and rebuilding assistance to countries including Palestine, Yemen, Lebanon and Syria, aimed at increasing trade between China and Arab countries to $430 billion by 2027.

China will also support co-constructing a clean energy cooperation center, and encouraging Chinese energy companies and financial institutions to participate in Arab countries' recyclable energy projects that will produce a total capacity of 5 million kilowatts.

Xi also voiced China's firm support to Arab states in independently exploring development paths suited to their national conditions, and holding their future in their own hands. 

"China supports the Arab states in safeguarding sovereignty, territorial integrity and national dignity," said Xi.

While addressing the Palestinian issue, Xi confirmed the two-state solution and the principle of "land for peace" should be upheld by the international community.

"China supports the establishment of an independent State of Palestine that enjoys full sovereignty based on the 1967 border and with east Jerusalem as its capital," he said.

China's President also called on all sides to uphold regional peace and strive for common security, as well as increase person-to-person exchanges and enhance mutual understanding.