Raphael Oni
President Xi Jinping of China has emphasized the need for an inclusive and open Asia-Pacific economy, where everyone shares opportunities and emerges a winner. Speaking at the 32nd APEC Economic Leaders’ Meeting, Xi Jinping proposed five key initiatives to achieve this goal.
Safeguard the Multilateral Trading System: Xi Jinping stressed the importance of practicing true multilateralism and enhancing the authority and effectiveness of the WTO-centered multilateral trading system.
Build an Open Economic Environment: He called for promoting trade and investment liberalization and facilitation, deepening fiscal and financial cooperation, and steadily pushing for regional economic integration.
Stabilize Industrial and Supply Chains: Xi Jinping emphasized the need to join hands and strengthen links, rather than part ways and sever them, to support the open development of supply chains.
Advance Digital and Green Transformation: He proposed making digital technologies a strong catalyst for cross-border trade and promoting practical cooperation in paperless trade, smart customs, and other areas.
Promote Universally Beneficial and Inclusive Development: Xi Jinping stressed the importance of adhering to the people-centered development philosophy and fostering an economic globalization that is more inclusive, sustainable, and beneficial to all peoples in the region.
Xi Jinping also highlighted China’s commitment to promoting an open world economy, citing its efforts to attract foreign investment, expand voluntary and unilateral opening up, and align with high-standard international economic and trade rules.
The Asia-Pacific region has been at the forefront of global open development, and Xi Jinping’s proposals aim to further consolidate the foundations for open development in the region.
