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In his speech, Xi listed a number of priorities of global economic governance:

Though China posted its slowest annual growth in a quarter of century last year, policy makers have refrained from taking any radical stimulus moves. Instead, they have resorted to supply-side reforms to optimize the economic structure, prune industrial overcapacity, slash costs, and boost efficiency.

These small business clusters making a single product are typical of Zhejiang and a double-edged sword. Resource and labor intensive manufacturers have lost dominance as capital drains into Southeast Asia where costs are lower. There is also government pressure to "empty the cage for new birds" -- shutting down polluters to make room for environment-friendly, high-value added industries.

The document noted that each official should have regular contact with about 100 CYL members to listen to their concerns, exchange ideas and host activities for them.

Xi made the remarks when meeting with Thai Prime Minister Prayuth Chan-ocha on the sidelines of the G20 summit in the eastern city of Hangzhou. Prayuth is attending the summit as a leader of guest countries.