He also promised that China will remain open to foreign investment.

In addition, Xi called for measures to maintain cyber security and promote its orderly development, comparing security and development to "the two wings of a bird."

"All countries should work together to contain the abuse of information technology, oppose cyber surveillance and cyber attacks and reject an arms race in cyberspace," Xi said.

The president said China will work with all other countries to step up dialogue and exchange, and effectively manage differences.

"We should push for the formulation of international cyberspace rules accepted by all parties as well as an international convention against terrorism in cyberspace, improve the legal assistance mechanism to fight cyber crimes and jointly uphold peace and security in cyberspace," Xi said.

To promote equity and justice, the president proposed building an Internet governance system which features a multilateral approach with multi-party participation.

"There should be no unilateralism," he said. "Decisions should not be made with one party calling the shots or only a few parties discussing among themselves."

"All countries should step up communication and exchange, improve dialogue and consultation mechanism on cyberspace, and study and formulate global Internet governance rules, so that the global Internet governance system becomes more fair and reasonable and reflects in a more balanced way the aspiration and interests of the majority of countries," Xi said.

Jia Xiudong, a research fellow with the China Institute of International Studies, said Xi's views are in accordance with the common interests of the international community, and conducive to the Internet's orderly development.

As the largest developing country, China needs to express its views in face of global challenges as it can reflect the interests of other developing countries, bringing equity and justice to international governance, he added

World Economic Forum founder and executive chairman Klaus Schwab said Xi's remarks on open cyberspace reflected the need for global cooperation.

"We should keep the Internet open and we have to work together on the global level which brings the dedication of the governments, businesses and individuals to shape the Internet in such a way that everybody has access and that Internet can really serve as an engine and catalyst for economic development," Schwab said.