BEIJING - China's development gains will benefit all its people in a more substantial and equitable way, Chinese President Xi Jinping said on Monday.

Xi made the remarks in a special address at the 2022 World Economic Forum virtual session.

"The common prosperity we desire is not egalitarianism," Xi said. "To use an analogy, we will first make the pie bigger, and then divide it properly through reasonable institutional arrangements."

"As a rising tide lifts all boats, everyone will get a fair share from development, and development gains will benefit all our people in a more substantial and equitable way," he said.