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"The basic trend of steady long-term growth for China's economy remains unchanged at present and for a period to come," the meeting said, stressing transforming external pressure into motivation for deepening reform and furthering opening-up, and focusing on running China's own affairs well.

The mechanism had slashed taxes by over 440 billion yuan (about 62.5 billion U.S. dollars) for 250 million taxpayers in the first nine months of this year, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang Wednesday.

"I've seen China become much more open toward foreign direct investment," said Khaldoon Khalifa Al Mubarak, group CEO and managing director of the Mubadala Investment Company, citing the continuous evolution of the Chinese market.

Hu, a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while presiding over a meeting in Beijing on inspections of the work to improve the rural living environment.

Lefteris Bidelas, editor-in-chief of Ethnos (Nation) Sunday newspaper, said Xi's article "proves that a new era is dawning on these long and historic ties that have been forged in difficult times and are based on mutual respect and solidarity."