Chinese Premier Li Keqiang (L) his Canadian counterpart Justin Trudeau walk to the signing ceremony. [Photo/Xinhua]

"We have decided to strengthen exchanges in all levels and in multiple mechanisms. We have agreed to establish high-level financial dialogue mechanism, and annual meeting mechanism between the two foreign ministers," Li said.

The Chinese leader also noted that they have discussed their differences, saying that it is normal for China and Canada, two countries with different national conditions and in different development stages, to differ.

He added that what's more important is to manage their differences, knowing that their common interests far outweigh differences, Li said.

"We are very pleased about the nature and the stability we have been able to bring to the Canada-China relationship," said Trudeau at the joint press conference.

Trudeau said the two sides agreed to double the bilateral trade volume by 2025, and the economic relations between the two countries have huge potential that can create decent salaries and jobs.

Trudeau added that maintaining stable relations with China is in the interests of both countries. He is looking forward to bringing more opportunities for Canadians through relations with China.