Delegates applaud as the opening session of the 20th National Congress of the CPC starts on Sunday. YAO DAWEI/XINHUA

Speaking of China's development in the new era since the 18th CPC National Congress in 2012, Xi said that the past decade marked three major events of profound historical significance for the cause of the Party and the people.

"We embraced the centenary of the Communist Party of China; we ushered in a new era of socialism with Chinese characteristics; and we eradicated absolute poverty and finished building a moderately prosperous society in all respects," he said.

China has seen a historic rise in its economic strength in the past decade. Its GDP has grown from 54 trillion yuan ($7.5 trillion) in 2012 to 114 trillion yuan in 2021, and the 2021 figure accounts for 18.5 percent of the world economy, up 7.2 percentage points from 2012, Xi said.

The country continues to be the world's second-largest economy, ranks first in the world in terms of grain output, and its manufacturing sector is the largest in the world, as are its foreign exchange reserves, he said.

Xi also talked about China's response to the COVID-19 pandemic, including its pursuing of the dynamic zero-COVID policy. He said that "we have protected the people's health and safety to the greatest extent possible and made tremendously encouraging achievements in both epidemic response and economic and social development".

"As we fully affirm the remarkable achievements we have made in the cause of the Party and the country, we must not lose sight of the shortcomings in our work and the many difficulties and problems confronting us," Xi said.

He set out a list of issues to be addressed in the coming years, including unbalanced and inadequate development nationwide, bottlenecks hindering high-quality development, and strengthening China's capacity for scientific and technological innovation, as well as major issues to be resolved in order to guard against financial risks and ensure that food, energy, and industrial and supply chains are secure and reliable.