Xi: Fostering an open economy in Asia-Pacific

Chinese President Xi Jinping has called on all 21 APEC economies to boost their win-win cooperation to achieve common prosperity. The appeal came on the final day of the meeting in Manila, before his return to Beijing. 

The president said China will pay more attention to the quality and efficiency of its economic growth, and as well, to more concentration on environment protection and opening up.

Acknowledging the current challenges faced by the region as well as the whole world, President Xi Jinping called for a deepening partnership among APEC economies.

He said the "Asia-Pacific region is still the locomotive driving the world economy" and urged all member economies to make use of the APEC platform to continue leading global growth.

The Asia-Pacific region accounts for 40 percent of world's population, 48 percent of world trade and 57 percent of global output.

But how to further integrate different economies and boost inclusive development in the region?

President Xi said the key is to push forward reform and innovation, find new growth engines, as well as opening up economies even further.

Xi said the Free Trade Area of the Asia-Pacific, or the FTAAP, should be built as soon as possible. He also called on the APEC leaders to turn their consensus into solid and positive results, and advocated more connectivity in the Asia-Pacific region to inject vitality.

Xi also addressed the CEO summit on Wednesday. He talked about China's growth, saying the country is pushing full-steam ahead with reforms, to ensure it remains one of the engines of global economic growth.

"In the first three quarters of the year, the Chinese economy grew by 6.9%, contributing 30 percent to global economic growth. Such growth was achieved by a large economy of over ten trillion US dollars," he said.

Xi promised that China will pay more attention to the quality and efficiency of its economic growth, as well as more advanced environment protection and opening up.

He also vowed to build an open, transparent and equitable investment environment.

Source: CCTV