Governmental institutions currently working on foreign aid include the Department of Foreign Assistance under the Ministry of Commerce.
China will set up an international development cooperation agency, according to the plan on reforming institutions of the State Council unveiled on Tuesday.
Like China, Japan also attaches importance to the WTO rules and maintains that trade issues should be handled based on those rules, he added.
The two sides should tap potential driving forces so as to upgrade the bilateral trade and economic cooperation to a new level, Wang said.
The meeting urged "prioritizing key areas, having the perseverance to hammer away until a task is done, and making full efforts to complete all tasks in 2018."