Xi's statements are likely to be viewed positively by investors in Chinese equities, as stability and sustainability are key factors for economic growth and, by extension, stock performance. Given FXI's focus on large-cap Chinese companies, any indication of a stable economic environment in China could bolster investor confidence in these companies.

While SPY is focused on U.S. equities, the global nature of today's markets means that significant political and economic developments in one of the world's largest economies, like China, can have far-reaching effects. A stable and healthy path as advocated by Xi could contribute to overall positive sentiment in global markets, potentially benefiting SPY.