"The region cannot and should not be an arena for geopolitical rivalry, still less should it be plunged into a new cold war or camp-based confrontation," Xi said at the APEC Summit in San Francisco on Thursday, as quoted by the Chinese Foreign Ministry.
He added that the APEC member countries have to "follow the right norms for state-to-state relations to maintain Asia-Pacific prosperity and stability through dialogue and partnership rather than confrontation and alliance."
The Chinese leader said that development could only be achieved with cooperation, and called on the countries in the region to "remain committed to open regionalism, and steadfastly advance the building of a Free Trade Area of the Asia-Pacific."
Xi added that China remains the most powerful engine of global growth with its steadily recovering economy.
The leader said that China was capable of achieving long-term and stable growth, while its economy remains resilient and promising, and "will remain so in the long run."
He stressed that China has become a "synonym of the best investment destination."
"We invite friends from business communities across the world to invest and deepen your footprint in China," Xi said.
China is committed to pursuing high-quality development and green economic growth, he said, and will boost its efforts to modernize the industrial system and enable all sorts of enterprises to "share in the gains of development."
APEC is a trade and economic forum of 21 countries in the Asia-Pacific region. This year's summit in San Francisco, California, is taking place November 11–17.