Lima, Peru–(Newsfile Corp. – November 18, 2024) – Chinese President Xi Jinping has wrapped up his state visit to Peru, where he addressed the 31st APEC Economic Leaders’ Meeting and gave a written speech at the APEC CEO Summit. At these key meetings, President Xi emphasized China’s commitment to fostering an inclusive, balanced, innovative and green global economy.
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This year’s APEC adopted the theme “Empower. Include. Grow.” Against a backdrop of global uncertainties, Xi highlighted pressing challenges facing the Asia-Pacific region and presented China’s proposals to enhance the region’s development while building a shared future for its nations.
Reform and opening up
“Asia-Pacific cooperation is confronted with challenges, such as rising tendencies of geopolitics, unilateralism and protectionism. At this historic crossroads, we Asia-Pacific countries carry greater responsibilities on our shoulders,” Xi said at the APEC Economic Leaders’ Meeting on November 16.
Earlier this month, the seventh Hongqiao International Economic Forum released the World Openness Report 2024, which measured the openness levels of 129 economies from 2008 to 2023 and showed that the world’s opening-up level declined over the past year.
In his written speech at the APEC CEO Summit on November 15, Xi highlighted the necessity of global economic governance reform and economic globalization to empower the Asia-Pacific economy for long-term growth. Economic globalization has always been the general trend, he said.
China has continued to push for reform and opening up. It has introduced measures to advance the process of opening up in sectors such as telecommunications, education and healthcare. Additionally, China remains active in advancing regional agreements, such as the Regional Comprehensive Economic Partnership (RCEP), and pursuing membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
The signing of a protocol to upgrade the China-Peru Free Trade Agreement and ongoing negotiations for the China-ASEAN Free Trade Area 3.0 also reflect China’s commitment to fostering cross-border trade and economic collaboration.
Inclusive development
Global prosperity and stability cannot be achieved when the rich get richer and the poor poorer, Xi said in the written speech, noting true development means common development of all countries. “We should pursue economic globalization that is people-centered and delivers more balanced development and more equal opportunities, so that different countries, classes and communities can all benefit from development,” he said.
