"China should not be judged by GDP alone," Xi said while addressing the members of Politburo of the ruling Communist Party of China (CPC).
"China should be judged by its transition in economic development, restructuring, dissolution of overcapacity and by the strength of the nation's commitment to an ecological society," he added.
CPC, which has over 82 million members deviated from the hard-line Marxist ideology followed by its founder, Mao Zedong after his death in 1976 and implemented widespread market reforms under the leadership of his successor, Deng Xiaoping which resulted in the fastest economic development, making it the world's second largest economy.
While initiating economic reforms, however, CPC remained a sole power centre in the country under one-party rule.
The Chinese government recently announced more reforms to open up the economy including private banking as economy slowed to 7.4 per cent last year with forecast that it may touch 6.8 this year followed by 6.3 per cent next year.
Xi also stressed on use of Marxist principles to to deepen reforms.
"Studying dialectical materialism and historical materialism will help CPC members get better understanding of Marxist philosophy," said Xi, who headed the party ideological school before leading the CPC in 2013.

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