SINGAPORE - A prosperous and stable China does not pose a threat to any country, and it only means more development opportunities for other countries, visiting Chinese Vice President Xi Jinping said on Monday.

Speaking on the Chinese economy and China's relations with the outside world at a reception marking the 20th anniversary of China-Singapore diplomatic relations, Xi said China remains a developing country despite the country's GDP is expected to become the world's second largest this year.

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He said that China's per capita GDP is only one tenth of that in Singapore and ranks only about 100th in the world. China's development still remains "unbalanced, uncoordinated and unsustainable," he told an audience of 400 business representatives from China and Singapore. "We will have to work hard for many years to achieve modernization and bring a happy and prosperous life to all the Chinese people," he added.

Xi said that China seeks to achieve development by upholding world peace.

"China pursues scientific, harmonious and coordinated development internally, and peaceful, open and cooperative development externally," Xi noted, "China's further development will only bring more opportunities to the world, its neighbors in particular."

He stressed China will continue to undertake due responsibilities for regional peace and common development. China follows an independent foreign policy of peace and calls for building a harmonious world with lasting peace and prosperity.