In the past decade, China's GDP has grown from 54 trillion yuan (about $7.6 trillion) to 114 trillion yuan and come to account for 18.5 percent of the world economy, up 7.2 percentage points. China has remained the world's second largest economy, and its per capita GDP has risen from 39,800 yuan to 81,000 yuan.

The country has eradicated absolute poverty, and built the largest education, social security, and healthcare systems in the world.

It has also joined the ranks of the world's innovators, while achieving an overwhelming victory and fully consolidating the gains in the fight against corruption.

But Xi said the Party cannot rest on its laurels just yet.

The just-concluded 20th CPC National Congress came at a time when the world is undergoing accelerating changes unseen in a century, and a new phase of uncertainty and transformation.

China has entered a period of development in which strategic opportunities, risks, and challenges are concurrent, and uncertainties and unforeseen factors are rising, Xi said in the report to the congress.

"Confronted with new challenges and tests on the journey ahead, we must remain on high alert and stay sober-minded and prudent like a student sitting for a never-ending exam," he told journalists Sunday.

"We must make sure that our century-old Party will become ever more vigorous through self-reform and continue to be the strong backbone that the Chinese people can lean on at all times," he said.

The journey ahead is long and arduous, but with determined steps, "we will reach our destination," he said.

"We'll not be daunted by high winds, choppy waters or even dangerous storms, for the people will always have our back and give us confidence," Xi said.