DAVOS, Switzerland - Chinese President Xi Jinping said here Tuesday that China has not only benefited from economic globalization, but also contributed to it.

China's development is an opportunity for the world, Xi said in a keynote speech at the opening ceremony of the 47th World Economic Forum (WEF) annual meeting in Davos, Switzerland.

Rapid growth in China has been a sustained, powerful engine for global economic stability and expansion, while the inter-connected development of China and a large number of other countries has made the world economy more balanced, said the Chinese president.

The world's second largest economy's remarkable achievement in poverty reduction has contributed to more inclusive global growth, and the country's continuous progress in reform and opening-up has lent much momentum to an open world economy, he said.