Sense of global community

As the leader of the world's second-largest economy, Xi reiterated his vision of an international community in which all members shares the same fate and can stick together in times of difficulty.

Xi said the global village should be a stage for common development, rather than "an arena where gladiators fight each other," he said.

Xi's comments were echoed by International Monetary Fund Managing Director Christine Lagarde, who said all countries and regions should have a greater sense of responsibility for the consequences of their policies for their own nations and regions, as well as for the rest of the world.

Lagarde urged re-accelerating the international cooperation process, warning that compared to the beginning of the global financial crisis, the desire to cooperate has waned.

Xi also called for openness and inclusiveness to enhance common development in Asia and other regions.

In the past 10 years, trade within Asia has increased from 800 billion U.S. dollars to 3 trillion U.S. dollars, while Asian trade with other regions has grown from 1.5 trillion to 4.8 trillion U.S. dollars.

"This shows that cooperation in Asia is open and goes hand-in-hand with Asia's cooperation with other regions," Xi said. "Non-Asian countries should respect Asia's diversity and its long-standing tradition of cooperation."

Releasing dynamics

In his speech, Xi called for Asian countries to better cooperate and explore development paths suited to their national conditions.

He reminded countries that the global economy has entered a period of profound readjustment and its recovery remains elusive. The international financial sector is fraught with risk and protectionism is on the rise.

While emerging as an important engine driving world economic recovery and growth, the continent needs to transform and upgrade its development model, adjust its economic structure, make development more cost-effective and make life better for its people, he said.

Sustaining development is still of paramount importance to Asia, because development is the key to solving the major problems and difficulties it faces, he said.

China will increase connectivity with its neighbors through various means, including building a regional financing platform and advancing economic integration within Asia, he said.

The president also pledged that China will promote trade and investment liberalization and facilitation, step up bilateral investment and explore new areas of cooperation with other countries.

As a non-governmental and non-profit international organization founded in 2001, the BFA works to promote regional economic integration and bring Asian countries closer to their development goals.

The largest forum to be held in the event's history, the 2013 forum is being held under the theme of "Asia Seeking Development for All: Restructuring, Responsibility and Cooperation," and has attracted more than 2,500 people from around the globe.

Australian Prime Minister Julia Gillard said the forum reflects changes in the region and demonstrates the enduring significance of regional growth and security.

"For Australians, the Boao Forum is also a particularly significant symbol of the role we seek to play in the region," she said.

In addition to Gillard, political leaders attending this year's event included Brunei's Sultan Hassanal Bolkiah, Kazakh President Nursultan Nazarbayev, Myanmar President U Thein Sein, Peruvian President Ollanta Humala Tasso, Zambian President Michael Chilufya Sata, Finnish President Sauli Niinisto, Mexican President Enrique Pena Nieto, Cambodian Prime Minister Hun Sen, New Zealand Prime Minister John Key, Algerian Speaker of the Council of the Nation Abdelkader Bensalah and Chairman of the State Great Hural of Mongolia Zandaakhuu Enkhbold.