Chinese President Xi Jinping has defended the Chinese Dream of a great national rejuvenation, insisting that it is not a dream of hegemony.

"We are not prepared to replace anyone," Xi said. Rather, China aims to "restore the dignity and status it deserves." The comments were made on Friday during a meeting with foreign representatives attending the New Economy Forum in Beijing.

Among the attendees were former U.S. senior officials.

Expressing confidence in China's future, Xi said the country was willing to cooperate with other countries, including the U.S., in the field of innovation. He reiterated China's determination to follow the path of opening up despite any obstacles.

"No country can be an independent innovation center or enjoy the fruits of innovation alone," he said.

China will maintain its long-standing commitment to reform and opening up, Xi reiterated, adding, "I have full confidence in China's prospects for development."

The president also stressed that the country will adhere to the long-appreciated Chinese wisdom of "harmony without uniformity," stay on the path of peaceful development and carry out mutually beneficial cooperation with all countries in the world.

The foreign representatives praised China's Belt and Road Initiative and expressed willingness to jointly develop the program.

They appreciated China's reform and opening up in promoting global sustainable development and stability in international relations against rising protectionism, and vowed to strengthen innovative cooperation to avoid an economic iron curtain.