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By Bloomberg

President Xi Jinping said China will offer other Asian nations trade and investment opportunities even as the country’s economy enters a “new normal” of slowing economic growth.

China’s $40 billion Silk Road Economic Belt initiative has attracted interest from more than 60 countries and international organizations, and the founding of the Asian Infrastructure Investment Bank is proceeding smoothly, Xi said in a speech at the Boao Forum on China’s southern Hainan Island.

By touching on the AIIB and the Silk Road, Xi highlighted two major initiatives China has presented in recent months as it seeks new ways to sustain growth and expand its economic influence globally. He struck a reassuring tone, pledging to boost coordination in Asia and saying bigger countries must take on more responsibility in world affairs.

“China’s economy shouldn’t be viewed only by its growth rate,” Xi said. “China’s economy entering the new normal will continue to provide countries including Asian nations more markets, growth, investment and cooperation opportunities.”

The “new normal” phrase adopted by Xi and other Chinese leaders refers to their push for growth driven by domestic consumption rather than exports and infrastructure. The government targets growth to slow this year to about 7 percent, down from last year’s rate of 7.4 percent.

China plans to improve its investment environment and welcomes all countries to join the Silk Road initiative, Xi told the audience, which included business leaders and government officials from Malaysia, Australia and other nations.

Xi spoke shortly after the finance ministry issued a statement saying that the Asian Infrastructure Investment Bank now had 30 founding members, including the U.K., Switzerland, India and the Philippines. So far, the U.S. and Japan are the only Group of Seven holdouts to the initiative.