BEIJING, May 14 (Xinhua) -- Chinese President Xi Jinping on Sunday said the Belt and Road Initiative should be an open one that will achieve both economic growth and balanced development.

"We should build an open platform of cooperation and uphold and grow an open world economy," Xi said while delivering a keynote speech at the opening of the two-day Belt and Road Forum for International Cooperation in Beijing.

He compared a country's opening up to the "struggle of a chrysalis breaking free from its cocoon", which has short-term pains but creates a new life.

"We should jointly create an environment that will facilitate opening up and development, establish a fair, equitable and transparent system of international trade and investment rules and boost the orderly flow of production factors, efficient resources allocation and full market integration," he said.

China welcomes efforts made by other countries to grow open economies, participate in global governance and provide public goods, he said.

"Together we can build a broad community of shared interests," he said.

Xi also called for upholding the multilateral trading regime, advancing free trade areas and promoting liberalization and facilitation of trade and investment.