The international landscape is undergoing profound changes, but imbalance in development is yet to be addressed, he said, adding that the reform of the global governance system is gathering momentum, but improving its efficiency remains a major challenge.

XI'S PROPOSALS

The Chinese president made a five-pronged proposal on world economic development and global governance.

First, it is advisable that the economies focus on openness to create more space for development.

He called for efforts to build a free trade area of the Asia-Pacific (FTAAP).

"We should say no to protectionism and unilateralism, uphold the WTO-centered multilateral trading system, make economic globalization more open, inclusive, balanced and beneficial to all, and expand converging interests and share opportunities through opening-up and cooperation," he said.

Secondly, it is advisable to focus on development to deliver more benefits to the peoples, Xi said.

The economies should strengthen cooperation and help developing countries eliminate poverty so that people in all countries will live better lives. "This is what fairness is essentially about," Xi said.

He also called on the economies to make the 2030 Agenda for Sustainable Development a part of their national development strategies and forge equal and balanced global development partnerships.

Developed countries should honor their commitments on official development assistance and increase support to developing countries, he said.