Asia Can Be Anchor For World Peace: Xi

President Xi Jinping on Thursday called for Asia to be the anchor for world peace and the powerhouse of global growth, adding that countries should add "splendour" rather than trouble to the region.

Addressing attendees of the annual Boao Forum for Asia gathering via video link, Xi said the entire world does better when Asia fares well.

He stressed the need to continue developing and strengthening Asia and to make the region "an anchor of world peace, a powerhouse for global growth and a new pacesetter for international cooperation."

President Xi said Asian countries must safeguard peace in the region, keep their futures in their own hands, and promote cooperation and unity.

"Countries no matter their size, strength, and both in and outside the region, should all add splendour, rather than trouble, to Asia," Xi said.

The president also proposed establishing a global security initiative to "uphold the principle of indivisibility of security, build a balanced, effective and sustainable security architecture, and oppose the building of national security on the basis of insecurity in other countries."

Without referring to any specific actions, he also said Beijing opposes unilateral sanctions and what he called "long-arm jurisdiction," adding that economic de-coupling and "pressure tactics" such as cutting off supply chains, will not work.

"In today's world, unilateralism and an excessive pursuit of self-interests are doomed to fail," Xi said. "So are the practices of de-coupling, supply disruption and maximum pressure. So are the attempts to forge small circles or to stoke conflict and confrontation along ideological lines."

Xi also said efforts were needed to stabilise global supply chains. He added that China's economy is resilient and that its commitment to reform and opening up will not change.