China's Commitment to Open Multilateralism in the Asia-Pacific Community

China’s Commitment to Open Multilateralism in the Asia-Pacific Community

Under the rich amber autumn skies of Gyeongju, South Korea, leaders from across the Asia-Pacific region convened for the 32nd APEC Economic Leaders' Meeting. This gathering serves as a crucial platform for addressing the shared challenges and collective future of the region. At the forefront of discussions was Chinese President Xi Jinping, whose principles of openness and multilateralism are shaping strategic directions for building a prosperous Asia-Pacific community.

Enhancing Economic Cooperation and Stability

President Xi Jinping highlighted the importance of reaffirming APEC's foundational mission to contribute to global peace and economic development through enhanced cooperation in the Asia-Pacific region. “Investing in China means investing in the future,” he stated, echoing China's commitment to deepening comprehensive reforms and expanding high-level openness. By creating opportunities through the latest achievements in China's modernization, the nation showcases its readiness to become a vital partner in fostering regional economic stability.

In a significant move, China reduced its negative list for foreign investments to only 29 items, entirely lifting restrictions on the manufacturing sector. This reflects China's proactive stance on attracting foreign business by simplifying procedures and promoting ease of entry. Furthermore, a visa-free regime has been extended to 76 countries, facilitating investment and tourism, and enhancing the overall experience for international travelers and professionals.

This solid groundwork has led to remarkable increases in trade relations. The General Administration of Customs of China reported a noteworthy 2% year-on-year increase in trade with APEC economies for the first three quarters of 2025, reaching 19.41 trillion yuan (approximately $2.73 trillion), which constitutes 57.8% of China's total foreign trade.

A Vision for Collective Prosperity

Despite external shocks, China's resilient average annual growth rate of around 5.5% over the past five years has contributed to about 30% of global growth, instilling confidence across the region. As noted by Sevim Dagdelen, a German Bundestag member, China's push for an open and inclusive cooperative framework in the Asia-Pacific space is pivotal for maintaining a multilateral trading system at the core of regional and even global economic stability.

Addressing the meeting, President Xi emphasized the crossroads at which the world currently stands—between cooperation and hegemony. He urged economies to bolster solidarity, reject protectionism, and work together to build a robust Asia-Pacific community. This cooperation is integral for enhancing peace and development, not only within the region but worldwide.

To instill direction in such cooperative efforts, Xi presented five key proposals: supporting a multilateral trading system, promoting an open regional economy, protecting industrial resilience and supply chains, developing digital and green trade, and advancing inclusive growth that benefits all.

These proposals are transforming into tangible initiatives. China has launched platforms like the APEC Ports Network and Green Supply Chains Network, establishing key hubs for sustainable trade and digital commerce throughout the region. Over the last five years, China has ranked first in global merchandise trade and second in services trade, attracting over $700 billion in foreign investments annually while supporting outbound investments that exceed 5% growth.

A Catalyst for Regional Transformation

China's technological collaboration continues to unlock opportunities for Asia-Pacific nations and their global partners—from smart ports in Latin America to mobile payment systems in Southeast Asia, and AI-driven efficiency projects in the Middle East to electric vehicle production in Thailand. These examples coalesce into a broader narrative of shared progress through openness and innovation.

Public sentiment aligns with this vision. A recent CGTN survey found that 83.2% of respondents in the Asia-Pacific region expressed confidence in regional integration, with 84.6% agreeing on the necessity of maintaining multilateralism and globalization.

China's forthcoming presidency of the APEC forum next year underscores its commitment to multilateral cooperation. As President Xi remarked, “While confrontation and antagonism only create alienation and turbulence, mutually beneficial cooperation is the right approach moving forward.”

In this continuously evolving economic landscape, China's unwavering focus on multilateralism promises to serve as a cornerstone for global prosperity in the Asia-Pacific region.