He pledged to focus on stable, long-term economic growth and acknowledged challenges companies and individuals face in employment and living conditions.

Addressing the sensitive issue of Taiwan, which China claims as its territory, Xi reaffirmed his commitment to reunification, urging unity for national rejuvenation. This statement comes amidst heightened tensions with Taiwan, especially with pro-independence candidate Lai Ching-te leading in the polls.

Despite economic headwinds, indicated by three consecutive months of declining factory activity and the risk of missing the modest 5% annual growth target, Xi remains optimistic about China's ability to manage difficulties.

Xi also communicated New Year greetings to Russian President Vladimir Putin, praising the deepening trust and cooperation between China and Russia amid significant global and regional instability, underscoring the strengthening alliance in contrast to Western sanctions on Russia following its Ukraine invasion.