Going forward, China will take an even more responsible approach, be even more open and inclusive, and strive to achieve even higher quality of growth, he said.

"By doing so, as it develops itself, China will make greater contributions to the common prosperity of the world," he said.

Xi pledged that China will continue to significantly expand market access, strengthen IPR protection, and do more to increase imports, adding that China views all companies, both Chinese and foreign, as equals.

"China welcomes and encourages fair competition among them, and will fully protect their legitimate rights and interests," Xi said.

Recalling the first China International Import Expo (CIIE) successfully held in Shanghai a week ago, the president said with such actual steps, China has demonstrated its commitment to trade liberalization and opening-up of its market.

"I wish to welcome you all to the second CIIE to be held next year," he said. "I am confident that the large market of China, with a population of close to 1.4 billion, will be a source of dynamic growth for the global economy."

Calling the business community "an important force" driving the economic development of the Asia-Pacific and the wider world, Xi urged the business leaders to continue to share their insights with decision makers, encourage countries to adopt positive and practical policies and carry out extensive economic and technological cooperation.

"Together, we can open a new horizon for the common development and prosperity of the Asia-Pacific and the world at large," Xi said.

"Let us keep the steering wheel steady and paddle in the right direction so that the ship of the global economy will brave winds, break waves and sail to a brighter future," he said.

Later on the day, Xi also attended a dialogue between APEC leaders and representatives from the APEC Business Advisory Council, and exchanged with them views on building an open world economy and jointly building the Belt and Road.

Xi arrived here Thursday to pay a state visit to PNG and attend the APEC Economic Leaders' Meeting.

PNG is the first stop of Xi's ongoing Asia-Pacific tour, which will also take him to Brunei and the Philippines.