BEIJING, March 13 -- China will make efforts to promote the building of a community with a shared future for humanity, President Xi Jinping said Monday.

China's development benefits the world and China cannot develop in isolation from the rest of the world, Xi said when addressing the closing meeting of the first session of the 14th National People's Congress, the national legislature.

Stressing that China will make concrete efforts to advance high-standard opening up, Xi said the country will not only leverage global markets and resources for its own development but also promote the development of the whole world.

"We will be dedicated to peace, development, cooperation, and mutual benefit, stand firmly on the right side of history, practice true multilateralism, and uphold the shared values of humanity," said Xi.

He added that China will play an active part in the reform and development of the global governance system, contribute its share to building an open world economy, advance the implementation of the Global Development Initiative and the Global Security Initiative, add more stability and positive energy to the peaceful development of the world, and foster a favorable international environment for China's development.