SHANGHAI, May 21  -- Chinese President Xi Jinping urged policies to settle differences and disputes through consultation and negotiation at an Asia security summit held here on Wednesday.

Addressing the fourth summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA), Xi said Asia has come to a crucial stage in security cooperation in which countries in the region need to build on the past achievements and strive for new progress.

He called on countries to cherish the hard-won stability in the region.

"We need to innovate in our security concept, establish a new regional security cooperation architecture, and jointly build a shared and win-win road for Asian security," Xi said.

Holding 67 percent of the world's population, Asia accounts for one third of the global economy and remains the most dynamic and promising region in the world, according to the president.

Peace, development and mutually beneficial cooperation are the main trends in the region, Xi said, noting that Asia enjoys a rising status in the international strategic landscape and plays an increasingly important role in promoting a multi-polar world and democracy in international relations.

China took over the CICA presidency from Turkey at the summit.