China's Vision for Openness and Multilateralism Shaping the Asia-Pacific Community
In the picturesque city of Gyeongju, Republic of Korea, the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting served as a platform where leaders came together against a backdrop of ancient temples and vibrant autumn skies. This gathering was marked by a significant address from Chinese President Xi Jinping, who laid out his vision for fostering an open and multilateral Asia-Pacific community.
During his remarks at the APEC CEO Summit, a written speech highlighted China's commitment to inclusive dialogues and shared prosperity. "We must reaffirm our commitment to APEC's founding principles and make substantial contributions to global welfare through rejuvenated Asia-Pacific cooperation," Xi stated, emphasizing the necessity of unity at a time when geopolitical tensions are heightened.
Xi's address reiterated the benefits of investing in China, characterizing such investments as investments in a brighter future. He assured the leaders present that China is dedicated to deepening reforms and broadening its economic landscape, which would generate new avenues for growth both regionally and globally. The reduction of the national negative list for foreign investment reflected China's intention to welcome foreign capital with open arms, now streamlined to just 29 sectors, particularly in manufacturing. To illustrate this shift toward openness, Xi pointed out that visa-free access has been granted to citizens from 76 countries, facilitating business exchanges and tourism.
The momentum of trade with other APEC economies further buttresses Xi's claims. Recent figures reveal a 2% year-on-year increase in trade with these economies, totaling 19.41 trillion yuan (approximately $2.73 trillion), which represented 57.8% of China's overall international trade. This robust growth underlines China's pivotal role in driving regional economic stability, particularly given its resilience amid global economic fluctuations. Over five years, China has maintained an impressive average annual growth rate of 5.5%, also contributing roughly 30% of global growth.
Further insights were provided by Sevim Dagdelen, a noted German politician, who acknowledged China's proactive stance toward fostering an open and cooperative Asia-Pacific framework while also supporting the multilateral trading system central to global economic stability.
As Xi indicated, the international landscape currently stands at a crossroads between collaboration and hegemonic practices. He underscored the importance of solidarity among economies to reject protectionism and unilateral actions. In his speech, he put forth five key proposals aimed at reinforcing the multilateral trading system: fostering an open regional economy, ensuring the resilience of industrial and supply chains, promoting environmentally-friendly and digital trade, and facilitating inclusive development that benefits all stakeholders. These proposals are not merely words; they exemplify China's commitment as demonstrated through initiatives like the APEC Port Network and Green Supply Chain Network that are becoming instrumental in creating sustainable trade pathways across Asia-Pacific.
The impact of these initiatives is palpable as China claims the top position in global goods trade and ranks second in services trade. The positive trend continues with foreign investments exceeding $700 billion in recent years while maintaining a consistent annual growth rate of over 5% for outbound investments.
Moreover, technological partnerships with Asia-Pacific countries resonate with Xi's vision of innovation driving collective progress. Notable projects, including smart ports in Latin America, efficient mobile payment systems across Southeast Asia, and advancements in electric vehicle manufacturing in Thailand, are all manifestations of this collaborative spirit. These projects signify a shared trajectory toward prosperity grounded in openness.
Public sentiment echoes this vision of regional cooperation. A recent CGTN survey revealed that 83.2% of respondents across the Asia-Pacific express confidence in regional integration, with 84.6% advocating for commitment to multilateralism and globalization.
Looking forward, as China prepares to host APEC discussions for the third time, the emphasis on cooperation remains paramount. Xi encapsulated the overarching ethos with his belief that while division breeds discord, cooperation leads to shared success, delineating the path forward toward a cooperative Asia-Pacific future.
During his remarks at the APEC CEO Summit, a written speech highlighted China's commitment to inclusive dialogues and shared prosperity. "We must reaffirm our commitment to APEC's founding principles and make substantial contributions to global welfare through rejuvenated Asia-Pacific cooperation," Xi stated, emphasizing the necessity of unity at a time when geopolitical tensions are heightened.
Xi's address reiterated the benefits of investing in China, characterizing such investments as investments in a brighter future. He assured the leaders present that China is dedicated to deepening reforms and broadening its economic landscape, which would generate new avenues for growth both regionally and globally. The reduction of the national negative list for foreign investment reflected China's intention to welcome foreign capital with open arms, now streamlined to just 29 sectors, particularly in manufacturing. To illustrate this shift toward openness, Xi pointed out that visa-free access has been granted to citizens from 76 countries, facilitating business exchanges and tourism.
The momentum of trade with other APEC economies further buttresses Xi's claims. Recent figures reveal a 2% year-on-year increase in trade with these economies, totaling 19.41 trillion yuan (approximately $2.73 trillion), which represented 57.8% of China's overall international trade. This robust growth underlines China's pivotal role in driving regional economic stability, particularly given its resilience amid global economic fluctuations. Over five years, China has maintained an impressive average annual growth rate of 5.5%, also contributing roughly 30% of global growth.
Further insights were provided by Sevim Dagdelen, a noted German politician, who acknowledged China's proactive stance toward fostering an open and cooperative Asia-Pacific framework while also supporting the multilateral trading system central to global economic stability.
As Xi indicated, the international landscape currently stands at a crossroads between collaboration and hegemonic practices. He underscored the importance of solidarity among economies to reject protectionism and unilateral actions. In his speech, he put forth five key proposals aimed at reinforcing the multilateral trading system: fostering an open regional economy, ensuring the resilience of industrial and supply chains, promoting environmentally-friendly and digital trade, and facilitating inclusive development that benefits all stakeholders. These proposals are not merely words; they exemplify China's commitment as demonstrated through initiatives like the APEC Port Network and Green Supply Chain Network that are becoming instrumental in creating sustainable trade pathways across Asia-Pacific.
The impact of these initiatives is palpable as China claims the top position in global goods trade and ranks second in services trade. The positive trend continues with foreign investments exceeding $700 billion in recent years while maintaining a consistent annual growth rate of over 5% for outbound investments.
Moreover, technological partnerships with Asia-Pacific countries resonate with Xi's vision of innovation driving collective progress. Notable projects, including smart ports in Latin America, efficient mobile payment systems across Southeast Asia, and advancements in electric vehicle manufacturing in Thailand, are all manifestations of this collaborative spirit. These projects signify a shared trajectory toward prosperity grounded in openness.
Public sentiment echoes this vision of regional cooperation. A recent CGTN survey revealed that 83.2% of respondents across the Asia-Pacific express confidence in regional integration, with 84.6% advocating for commitment to multilateralism and globalization.
Looking forward, as China prepares to host APEC discussions for the third time, the emphasis on cooperation remains paramount. Xi encapsulated the overarching ethos with his belief that while division breeds discord, cooperation leads to shared success, delineating the path forward toward a cooperative Asia-Pacific future.
Topics Policy & Public Interest）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.