Chinese President Xi Jinping and his wife Peng Liyuan are greeted by Serbian President Tomislav Nikolic and his wife upon their arrival at the airport of Belgrade, Serbia, June 17, 2016. [Photo by Rao Aimin/Xinhua]

Economic growth in Central and East European nations had created many business opportunities for Chinese companies and investors, he said.

Xiang Junyong, an international relations researcher at the Renmin University of China, said Xi's visit would bring more Chinese investment to Serbia, where many Chinese companies had contracts to build rail, highway and bridge projects.

Liu Haixing, assistant foreign minister, said Xi would visit the Smederevo steel mill, which was founded in 1913 and acquired in April by Hesteel Group, China's largest iron and steel business group in terms of production capacity.

In 2009, Serbia became the first country in Central or Eastern Europe to establish a strategic partnership with China.

In September last year, Serbian President Tomislav Nikolic and troops from the European country attended the parade in Beijing, marking the 70th anniversary of victory in the World Anti-Fascist War.