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The Communist Party daily slammed Western sanctions on Russia that can have an adverse impact on “Russia's morale and unity”.
China is the world's biggest steelmaking country, with much of China's steel surplus diverted to foreign markets.
The five beneficiary countries are Cambodia, Vietnam, Laos, Thailand and Myanmar which, along with China, form the GMS bloc.
China will also double its purchase of Thai farm products on the basis of the volume the two sides agreed upon in 2013.
The issue of inadequate housing is particularly grim in emerging countries like China and India, which are poverty-ridden in pockets.
Asian nations like China and India growing at a faster rate than the rest of the world, said Putin.
The WTO on Thursday criticized the US Department of Commerce saying it "acted inconsistently".
Over 86 per cent of world’s refugees were being hosted by developing countries at the end of 2013.
China's exports to Russia increased 10.5 per cent year on year and imports 2.9 per cent in the first three quarters of the year.
At a meeting with the leaders of 16 Central and Eastern European countries (CEE) in the Serbian capital of Belgrade on Tuesday, Chinese Premier Li Keqiang announced a new investment
