As members of the same global village, we should foster a sense of community of common destiny, Chinese President Xi Jinping said Sunday.

Delivering a keynote speech at the opening ceremony of the BFA Annual Conference 2013, Xi said mankind has only one earth, and it is home to all countries. Common development, which is the very foundation of sustainable development, serves the long-term and fundamental interests of all the people in the world.

Xi urged to follow the trend of the times, keep to the right direction, stick together in time of difficulty and ensure that development in Asia and the rest of the world reaches new highs.

"We should boldly break new ground so as to create an inexhaustible source of power for boosting common development," Xi said.

The Chinese president said nothing in the world remains constant, and as a Chinese saying goes, a wise man changes as time and event change.

"We should abandon the outdated mindset, break away from the old confines that fetter development and unleash all the potential for development," Xi said.

"We should redouble efforts to shift the growth model and adjust the economic structure, raise the quality of development and make life better for the people," he added.

Xi urged to steadily advance the reform of the international economic and financial systems, improve global governance mechanisms and provide support to sound and stable global economic growth.

Asia, with its long-standing capacity for adjusting to change, should ride on the waves of the times and make changes in Asia and global development reinforce and benefit each other, he added.

(Xinhua News Agency April 7, 2013)