Speaking to reporters at the Yanqi Lake resort, the forum venue in the outskirts of Beijing, Mr Xi said the forum has sent a "positive message" to the rest of the world on "Belt and Road worldwide cooperation".
"Spanning thousands of miles and years, the ancient silk routes embody the spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit", Xi said.
Xi said the Belt and Road Initiative has "no political agenda" and was meant to be an "open and inclusive platform for development".
Leaders from 29 countries are attending the forum including Russian President Vladimir Putin and Turkish President Recep Tayep Erdogan.
Australia's reluctance to commit stems at least in part from reservations against linking, at Beijing's request, an extensive Northern Australia infrastructure development plan directly with China's Silk Road, sources with knowledge of the matter have previously told Reuters.
Other delegates included officials, entrepreneurs and financiers from over 130 countries and representatives of key global organizations, such as U.N. Secretary-General Antonio Guterres, World Bank President Jim Yong Kim and Managing Director of the worldwide Monetary Fund Christine Lagarde.
The Philippine Embassy in China said there will be no official agreements signed or alliances formed during the Belt and Road Forum.
The 30 heads of states who signed the document said that they recognised the challenges the world economy faced and welcomed the initiative to improve connectivity between Asia and Europe.
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China's high-profile Belt and Road Forum, boycotted by India over a controversial economic corridor traversing through Pakistan-occupied Kashmir (PoK), ended today with a call to reject protectionism and embrace globalisation, which was "encountering some headwinds".
Mr Xi said the world must create conditions that promote open development and encourage the building of systems of "fair, reasonable and transparent global trade and investment rules".
Indian foreign ministry spokesman Gopal Baglay, asked whether New Delhi was participating in the summit, said India could not accept a project that compromised its sovereignty.
Later yesterday, Mr Xi announced that the two-day summit reached "broad consensus" on the project and that China will host a new forum in 2019.
It's a milestone event created to promote Chinese President Xi Jinping's grand vision of expanding trade, financial and infrastructure links between Asia, Africa and Europe. "East Africa is working with China to develop a standard gauge railway project from Mombasa in Kenya through Uganda to Rwanda and potentially to Burundi and DR Congo", Kayonga said.
If you drop the term "Belt and Road" in a conversation with an average Singaporean, you'll likely to get a blank look.
As China endeavors to push the One Belt One Road initiative off the drawing board and into reality President Xi made it clear all nations -in Asia, Europe, Africa, and the Americas are welcome.