No one should be allowed to throw Asia into chaos: Xi

Amid raging tension in the Korean peninsula, new Chinese President Xi Jinping on Sunday warned that no one should be allowed to throw the region into chaos for "selfish gains", saying future of rapidly growing Asia depends on peace and stability.

"No one should be allowed to throw a region and even the whole world into chaos for selfish gains," Xi said in apparent reference to US Pivot to Asia Pacific, which China says is aimed at containing it.

"Stability in Asia now faces new challenges, as hotspot issues keep emerging, and both traditional and non-traditional security threats exist," Xi said in his speech at the Boao Forum for Asia at Boao which was aired live on Television.

In his wide ranging address focusing on China and Asia after taking over as President last month, 59-year-old Xi said that Asian countries need to increase mutual trust and work together to ensure durable peace and stability in the region.

About 10 heads of states, Corporate Affairs Minister Sachin Pilot, Microsoft founder Bill Gates and top corporate and business heads from the world are attending the three-day forum which began on Saturday.

Xi's call for stability in Asia comes in the backdrop of heightened tension in the Korean Peninsula after China's close ally Pyongyang increased war preparedness threatening nuclear war following a joint war games by the US and South Korea.

It also comes amid maritime disputes between China and Japan over islands and Beijing and South East Asian countries over South China Sea besides border dispute with India.

Xi said while China safeguards its sovereignty and territorial interests but at the same time would work for peace and stability of the region.

"Asia needs to enhance mutual understanding, build consensus, and enrich and deepen cooperation so as to strike a balance among the interests of various parties and build mechanisms that bring benefits to all," Xi said.

"Peace, like air and sunshine, is hardly noticed when people are benefiting from it. But none of us can live without them," he said.

"Countries, whether big or small, strong or weak, rich or poor, should all contribute their share to maintain and enhancing peace. Rather than undercutting each other's efforts, countries should complement each other and work for joint progress," he said.