Chinese President Xi Jinping called for a greater role of the Asia-Pacific region in the world economic growth in his keynote speech at the APEC CEO Summit on Wednesday in Manila, Philippines.
The president first reviewed the world economy, saying global growth continues to fall short of the expectations. In face of such a challenge, the Asia-Pacific area needs to find new growth areas with reform and innovation.
“We must push ahead with the reform and renovation. Addressing underlying problems in the world economy, carrying out the monetary stimulus policies alone is not enough. We must make greater efforts in promoting the economic structural reform and make the supply system better adapt to the changing demand structure. The Asia-Pacific region should go head in the world in the aspect,” said Xi.
Xi further advocated promotion of connectivity in the Asia Pacific area, as it is of great importance to make the region’s economy vibrant.
“The Asia-Pacific Economic Cooperation will play roles of policy platform and incubator. We will seek closer cooperation in the internet economy, blue economy, green economy, urbanization and other areas, and improve the ability of independent innovation,” said Xi.
He continued to expound China’s policy on cooperation in the Asia-Pacific region and the implementation of the consensus reached at last year’s APEC meeting in Beijing.
“We will speed up the construction of FTAAP, promoting the integration of regional economy,” said the president.
Xi then moved onto China’s economy, saying that as China’s economy now faces unprecedented challenges, innovation, equity and justice will play greater role in the future.
Xi owed China’s development to Asia Pacific, saying China is willing to build high level free trade areas to benefit others, as well as China itself, and China will continue to foster open, transparent and fair investment environment.
Xi also mentioned China’s efforts on tackling with climate change.
Chinese President Xi Jinping arrived in Manila Tuesday to attend the 23rd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting after attending a summit of the Group of 20 (G20) in the Turkish coastal city of Antalya. (CCTV)