LIVE UPDATES: Vladimir Putin Attends Belt and Road Forum in Beijing

"President Putin said that the Belt and Road Initiative and BRICS offer a more fair world order compared to the so-called rule based international order that's imposed by Washington... So Washington is basically making up these rules as they go along and they dictate it to its vassal states, which I find completely true. And what he has stressed is that the main difference is that the Belt and Road Initiative is based on equality rather than one dominant power dictating to others. So it's really about the countries that need development, need roads, need railroads coming together to hammer out a deal for a win-win solution."

"Regarding how external factors and conflicts influence the development of Russian-Chinese relations, all these external factors are common threats, and they strengthen Russian-Chinese interaction. As for the prospects, I look at it with optimism," Putin added.

"Negotiations in delegation format have now concluded. Now, there is a lunch in a narrow group, after which there will be a face-to-face tea party," Peskov said.

"Since 2013, we have had 42 meetings and established good working relationships and strong friendships," Xi told a meeting with Putin in China's capital, Beijing.

"China is ready to work together with Russia, with a clear understanding of the common historical trend, following the direction of world development and always relying on the fundamental interests of the peoples of the two countries, to steadily enrich bilateral cooperation with new content, be the embodiment of the responsibility of major countries to promote the development and revitalization of the two countries, defend international justice and impartiality and promote the common development of world peace," Xi said.

The Chinese president said that "mutual political trust between the two countries is steadily deepening, and strategic cooperation remains close and effective."

The two leaders are expected to engage with delegations and have one-on-one discussions if necessary.

"China will establish a pilot cooperation zone in e-commerce of the Silk Road enter into free trade agreements and investment protection agreements with more and more countries, completely lift restrictions on foreign investment access to manufacturing, and actively follow international high standards of rules in trade and economy," the president said.