Chinese Ambassador Li Jinzhang praised the rapid development of China-Brazil relations at the celebration ceremony of the 65th Anniversary of PRC and 40th Anniversary of China-Brazil relations held in Brasilia on Oct 7. Zhang Fan / China Daily

The focus of the next phase of China-Brazil relations is to realize the series of bilateral agreements signed during Chinese President Xi Jinping's state visit to Brazil in July, agreements that will ramp up practical cooperation between the two countries to a new level, said Chinese Ambassador to Brazil Li Jinzhang on Oct 7 in Brasilia.

Li made the comments at a celebration ceremony for the 65th anniversary of the founding of People's Republic of China and 40th anniversary of diplomatic relations between China and Brazil.

"These agreements will lay a stronger foundation for China-Brazil relations' development over the next 40 years," Li said.

Li's words were echoed by Brazilian Deputy Foreign Minister Jose Alfredo Grasa Lima, who praised China's rapid development in recent years and the mutually beneficial cooperation between the two nations.

"Chinese President Xi Jinping's visit this July was a milestone in the development of Sino-Brazilian relations," Lima said. "The two countries face similar challenges and opportunities. Brazil is fully confident in the future of the relationship and is willing to cooperate with China hand-in-hand."

After 65 years of development, China is now the second largest economy in the world with an economic aggregate surpassing $9 trillion. In the first half of 2014, according to China's Ministry of Commerce, the economy grew at 7.4 percent.

"We will continue to stick to a policy of deepening comprehensive reform and enlarging opening up and promoting economic restructuring, in order to advance healthy and sustainable economic development and social progress," said Li.