President says economy is upgrading from high-speed to high-quality growth

China will deepen reform and further boost opening-up as the country seeks more balanced and adequate development, President Xi Jinping said on Wednesday.

Xi made the remark while meeting with the foreign representatives of the Imperial Springs International Forum at the Great Hall of the People in Beijing.

Xi spoke of the achievements of reform and opening-up in the past four decades and measures to pursue a new round of high-level opening-up.

The decisive step of reform and opening-up has been like a second revolution for China, Xi said, adding that the nation has achieved great success in the past 40 years and the people's livelihoods have been improved greatly.

The move has created a glorious history, and the country will achieve new progress that will be admired by the world in the next 40 years, Xi said.

Calling China's reform and opening-up people centered, Xi said that the Chinese economy is upgrading from high-speed growth to high-quality growth in the new era.

Xi cited his commitment at the Boao Forum for Asia in April to ease market access, creating a more attractive investment environment, enhancing protection of intellectual property and expanding imports.

The president also mentioned the important measures to boost opening-up that he announced at the first China International Import Expo in Shanghai last month.

China is committed to multilateralism, and the country will open its door wider and wider, he said.

Xi told the representatives that the economy is making progress while ensuring stability. Along with a rise in incomes, the people's pursuit of a better life will bring more consumption demand, Xi said.

The president expressed confidence in maintaining medium- to high-speed economic growth and upgrading the economy to a medium- to high-end status.

China has been proactive in maintaining and contributing to the international order, which is widely recognized globally, Xi said, adding that China's development is an opportunity for the world.

Reform and opening-up fully proves that only through win-win cooperation can the country achieve better and further development, Xi said.

The Belt and Road Initiative, put forward by China, is to build a new platform of cooperation for the international community, Xi said. China's overseas investment and its infrastructure cooperation with other countries have improved local people's livelihoods and sped up the industrialization process of the countries involved.

China's proposal of building a community with a shared future for mankind also focuses on win-win cooperation, which is in line with the interests of Chinese people and the whole world, Xi said.

Some 200 former world leaders, renowned scholars and business elites attended this year's forum. In their speeches, they expressed congratulations on the success of reform and opening-up, which they said has not only brought great changes in China but also has greatly influenced the world.

They also voiced opposition to unilateralism, isolationism and protectionism, saying that the international community has benefited from China's development.

The meeting's theme was "Advancing Reform and Opening-Up, Promoting Win-Win Cooperation".