The cooperation between China and France not only benefits the two countries but the entire world, Chinese Premier Li Keqiang said during his speech at a France-China economic summit at Toulouse, France, on Thursday.

"The cooperation between the two countries has been established for 50 years, and we can foresee that in the future it will become more prosperous and fruitful," Li said.

China and France will set up a fund to boost international production and third-party market cooperation, added the premier.

"The combination of finance and a substantial economy is a practical method to fight against the economic downturn," Li said.

He also mentioned that China and France have huge partnership potential in many fields, such as countering climate change, developing smart cities and modernizing agriculture.

"China is willing to boost people-to-people dialogues and communication with France," Li said. "We would like to see more Chinese students come to France, and more French classes be taught in Chinese schools and universities."

The premier said he learned French when he was in college.

"I hope the young in both countries can understand and learn each other's language and culture."

Li mentioned that China's stable economy will provide a solid foundation for China-France cooperation.

"The Chinese market's potential is enormous; the country is very welcoming of French entrepreneurs investing in China and creating new business in the market. The Chinese government will also propel more Chinese companies to France, and we hope our counterpart will create a favorable investment environment for Chinese investors as well," he added.

The two leaders later visited the headquarters of aircraft maker Airbus, which signed a framework agreement with the Tianjin Free Trade Zone Investment Co and the Aviation Industry Corp of China to set up an A330 completion and delivery center in Tianjin.

The company already has one delivery center and a final assembly line in Tianjin.

"The total value of annual industrial cooperation by the end of 2015 will be around $500 million, and we expect to reach $1 billion by 2020," the company told China Daily.

"As Chinese Premier Li mentioned, the cooperation between Airbus and China has become a successful example for European countries," said French Prime Minister Manuel Valls. "I was very impressed when I visited the cooperation project in Tianjin in January."

"There are already 45 orders, and I heard there are 30more," Valls said. "The investment from China has created around 13,000 jobs in France."

The leaders witnessed the signing of more than 20 cooperation agreements, including China National Building Materials Group Corp with Schneider Electric, and Chinese airline group subsidiary HNA Tourism Group and the French company Pierre & Vacances-Center Parcs Group.