China's action plan for building a Silk Road economic belt and a 21st century Maritime Silk Road was released over the weekend, fleshing out the priorities as policy coordination, connectivity, unimpeded trade, financial integration and people-to-people exchanges.

In promoting the initiative, China will follow the principle of "wide consultation, joint contribution and shared benefits", President Xi Jinping said at the opening ceremony of the Boao Forum for Asia in Hainan province.

Xi added that the development will be "open and inclusive, not exclusive".