Mr Putin's comments to a Belt and Road forum in Beijing could ease concerns over potential tensions between China and Russian Federation, given Beijing's rapidly expanding economic footprint in Central Asia, which is seen as Moscow's traditional sphere of influence.
He was speaking in Beijing at the start a summit on his grand plans to rebuild the old Silk Road and connect China with Asia, Africa and parts of Europe.
During his key note address at the forum, Prime Minister Imran Khan said Pakistan and China were entering the next phase of the multibillion China-Pakistan Economic Corridor which would focus on lifting people out of poverty.
A total of 126 countries, including developed and developing nations, and 29 worldwide organisations have signed cooperation documents with China on the initiative.
According to Putin, the China-led Belt and Road Initiative (BRI) is turning into a highly successful project that is gradually extending its global reach.
Later in the evening, a welcome banquet was hosted by President Xi and his wife Peng Liyuan in honour of the world leaders at the Great Hall of the People in Beijing.
She also applauded the launch of a green investment principle for Belt and Road projects at the Beijing conference, emphasising low-carbon and climate resilient investments.
China's foreign minister said last week that 126 countries and 29 worldwide organisations have signed cooperation agreements with Beijing on the Belt and Road. "Gwadar, once a small fishing village, is transforming rapidly into a commercial hub", Pakistani Prime Minister Imran Khan told the summit.
Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte are among the headline guests.
Chinese President Xi Jinping delivers his speech for the opening ceremony of the second Belt and Road Forum for International Cooperation (BRF) in Beijing, April 26, 2019.
Mr Xi also sought to address key United States trade concerns ahead of talks between the two countries next week.
However, relations between London and Beijing have been strained in recent years, most notably after a British warship sailed close to islands claimed by China in the disputed South China Sea last August. - Reuters Malaysian Prime Minister Mahathir Mohamad (2nd L) and his wife Siti Hasmah arrive to attend the welcoming banquet.
"Stable and sustainable finance management is a long term responsibility of BRI and as a ministry we will continue to work with finance ministers of the member countries and other financial institutions like World Bank and International Monetary Fund (IMF) to promote high quality and standard finance system for BRI projects globally", said Mr Kun.
Separately, Putin met Friday with Chinese President Xi Jinping.