Chinese Premier Li Keqiang (left) extends his hand to Indian Prime Minister Narendra Modi at a hotel in Kuala Lumpur, Malaysia on Nov 21, 2015. Li is attending an annual series of leaders meetings on East Asian cooperation and paying his first official visit to Malaysia. [Photo/Xinhua]

Indian Prime Minister Narendra Modi spoke highly of Chinese Premier Li Keqiang's philosophy on economic development when the two old friends met on Saturday in Malaysia.

Modi said he was impressed by Li's article that was published in the year-end edition of the Economist magazine, which talks about China's 2016 economic development.

It was this year's second meeting between the two leaders following Modi's visit to Beijing in May.

"The Indian people still remember the impressive yoga and tai chi activities we held in Beijing's Temple of Heaven," Modi said.

Premier Li thanked Modi for sending a birthday greeting on Sina Weibo, China's main micro-blogging platform, adding that their friendship has shown development for China-India relations.

Read More: PM Modi hits social media to wish Premier Li 'happy birthday'

On Li's birthday in July, Modi wrote on his Weibo page, "Premier Li Keqiang, happy birthday to you and wish you a long life. I recall our meeting in May very enthusiastically." Within five hours, the post received more than 21,290 likes and 1,830 comments.

Li said both China and India have a good prospective for cooperation as China is driving its "Made in China 2025" strategies and its "Internet Plus" program, which accord to India's strategies of "Made in India" and "Digital India".

"China is willing to work with India to accelerate the project of the Bangladesh-China-India-Myanmar Economic Corridor," said Premier Li.

The two leaders also compared notes on global and regional affairs of common concern.

Premier Li arrived in Malaysia on Friday for the 18th China-ASEAN (10+1) leaders' meeting, the 18th ASEAN-China, Japan and South Korea (10+3) leaders' meeting and the 10th East Asia Summit.

During his four-day stay in Malaysia, he is also to pay his first official visit to the country since taking office in March 2013.