"As the trend toward multi-polarity and economic globalisation deepens, the people of Asia have the major task of maintaining both development and stability," Hu said at the annual meeting of Boao Forum for Asia (BFA), a Chinese backed interactive Asian organisation modelled on World Economic Forum of Davos in Switzerland.
"Asians belong to one family," Hu said, adding that the people of Asia have a shared mission to promote common development and build a harmonious Asia respecting diversity of civilization and promote good-neighbourly relations.
"We need to translate diversity of our region into a driving force for more dynamic exchanges and cooperation, increase mutual understanding and trust, and take our cooperation to higher levels," he said.
The Asian countries need to "seek common ground while shelving differences and enhance common security," reject the Cold War mentality and zero-sum approach, and advocate a new security concept that features mutual trust, mutual benefit, equality and coordination, Hu said.
Besides Hu, other leaders attended the meeting included, Russian President Dmitry Medvedev, Brazilian President Dilma Rousseff, South African President Jacob Zuma, South Korea Prime Minister Kim Hwang-sik, Spanish Prime Minister Jose Zapatero and Ukrainian Prime Minister Mikola Azarov.
Medvedev, Rousseff and Zuma who attended the Brazil, Russia, India, China and South Africa, (BRICS) summit along with Prime Minster Manmohan Singh stayed back to attend the Bao meeting, while Singh left for Astana today for official visit to Kazakhstan. India is represented by Commerce Minister Anand Sharma.
More than 1,400 economists and diplomats from around the globe attended the meeting, which marked the tenth anniversary of the inauguration of the Boao Forum.
The Asian countries need to transform their economic development pattern in keeping with global trends, restructure their economies, build capacity for scientific and technological innovation, and develop the green economy.
"We need to focus on both the speed and quality of development, and ensure both efficiency and quality," he said.
"We need to integrate our effort to develop the economy with that to improve people's well-being, and achieve coordinated economic and social development," he said.
Hu said that Asian countries need also to share development opportunities and meet challenges together.
"Large countries should support small ones, rich countries should help poor ones and all should help each other so as to seize opportunities and tackle challenges together," Hu said.