Written speech by Chinese President at the APEC CEO Summit

Stay true to our original aspiration and promote development together

Opening a new chapter in Asia-Pacific cooperation

— Written Speech at the APEC CEO Summit

(Bangkok, 17 November 2022)

President Xi Jinping of the People’s Republic of China

        Representatives of the business community,

        Ladies and Gentlemen, Dear Friends,

        It gives me great pleasure to come to the beautiful city of Bangkok and attend the APEC CEO Summit.

        The world is once again at a crossroads. Where is the world headed? What about Asia Pacific? We have to give answers.

        The 21st century is the century of the Asia-Pacific. The Asia-Pacific region accounts for one third of the world’s population, over 60 percent of the world economy and nearly half of world trade. It is the most dynamic growth belt in the global economy. The economies of Asia-Pacific members have made remarkable achievements in the past, and we are sure to write even more magnificent chapters in the future.

        At present, the overall situation in the Asia-Pacific region is stable, regional cooperation is making continuous progress, and peaceful development and win-win cooperation are the mainstream. At the same time, the world has entered a new period of turbulence and change. Geopolitical tensions and the evolving economic landscape are superimposed, impacting the development environment and cooperation architecture of the Asia-Pacific region. The COVID-19 pandemic continues to drag on, downward pressure on the world economy is mounting and the risk of recession is rising. Multiple food, energy and debt crises are emerging in parallel. Many countries are encountering major difficulties in their economic and social development, and factors of instability and uncertainty are on the rise. Acts that distort international norms, interrupt economic ties, condone regional conflicts and hinder development cooperation are common, posing serious challenges to peace and development in the Asia-Pacific.

        He who knows the past knows the stranger. Over the past few decades, Asia-Pacific economic cooperation has injected strong impetus into regional development and effectively improved people’s well-being. Experience is precious, the original intention needs to stick to.

        — We need to follow the path of peaceful development. Once plagued by conflicts and wars, the Asia-Pacific region became an arena where major powers struggled and a gathering place for international conflicts. History shows us that camp rivalries do not solve problems, and prejudice only leads to disaster. It was because of the Cold War that the Asia-Pacific region, especially the small and medium-sized economies, embarked on the fast track of modernization and the “Asia-Pacific miracle” came into being.

        The Asia-Pacific region is no one’s back garden and should not become a gladiatorial arena of great powers. Any attempt to engage in a “new Cold War” will not be tolerated by the people and will not be allowed by The Times.

        — We need to be open and inclusive. Openness and inclusiveness are the basic conditions for the prosperity and progress of mankind. Over the past decades, Asia-Pacific economies have broken market segmentation, strengthened economic ties and actively embraced the world, opening up broad space for economic development. Adhering to open regionalism and the principles of diversity and non-discrimination, APEC has built an inclusive regional cooperation architecture that benefits all. It is with this kind of foresight and pattern that the Asia-Pacific region has been able to seize the opportunities of economic globalization and become a leader in regional economic integration.

        Openness brings progress, while seclusion leaves one behind. Blocking or even dismantling the long-established industrial and supply chains in the Asia-Pacific will only lead Asia-Pacific economic cooperation to a “dead end”.

        — We should pursue a path of unity. The “Asia-Pacific miracle” has been created by the concerted efforts of all of us. For a long time, the Asia-Pacific region has adhered to the spirit of a big family, worked together in times of difficulty, defused various risks, braved waves in the tide of the world economy, and forged a sense of community through cooperation, which has become a solid foundation for continuous development.

        The Asia-Pacific economy has entered a crucial stage of post-pandemic recovery. All economies face difficulties such as disrupted supply chains, food and energy shortages, and rising inflationary pressures. We need to strengthen cooperation, support and help each other so that the Asia-Pacific economy will take the lead in world economic recovery。

        Ladies and Gentlemen, Friends,

        Under the new circumstances, we should learn from historical experience and lessons, respond to the challenges of The Times, firmly advance regional economic integration in the Asia-Pacific, jointly open up new prospects for development, and build an Asia-Pacific community with a shared future.

        First, we need to strengthen the foundation for peaceful development. We should follow the purposes and principles of the UN Charter, foster a vision of common, comprehensive, cooperative and sustainable security, jointly oppose the Cold War mentality and camp confrontation, build a security architecture in the Asia-Pacific, and create conditions for economic development and lasting peace and stability in the region.

        Second, we should adhere to the concept of people-centered development. We need to ensure people’s well-being in economic development, accommodate the needs of vulnerable groups, address the income gap and foster an inclusive development environment. Developed economies in the Asia-Pacific should play a positive role in supporting developing economies and building a new partnership featuring unity, equality, balance and universal benefits.

        Third, we need to open up at a higher level. We need to deepen cooperation within the APEC framework, advance the FTAAP process and implement the Putrajaya Vision. We should fully and deeply participate in the reform of the WTO, promote the synergy of the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Trans-Pacific Partnership (RCEP) and the Digital Economy Partnership, and build an open economy in the Asia-Pacific.

        Fourth, we need to achieve higher levels of connectivity. Guided by the APEC Connectivity Blueprint, we need to promote orderly connectivity of hardware, software and personnel. China will work to synergize the Belt and Road Initiative with the development strategies of other parties and jointly build a high-quality Asia-Pacific connectivity network.

        Fifth, we need to build a stable and unimpeded industrial and supply chain. We need to follow economic rules and adhere to market principles, promote the free flow of production factors, maintain the production and supply system of goods and services, and build a convenient, efficient and secure Asia-Pacific industrial and supply chain. We should jointly oppose unilateralism and protectionism and oppose politicizing and weaponizing economic and trade relations.

        Sixth, we need to optimize and upgrade the economy. We need to adapt to the new round of technological revolution and industrial transformation, accelerate technological and institutional innovation, foster a new economy, new forms of business and new business models, and realize the digital transformation of the Asia-Pacific economy. We need to pursue green and low-carbon development, foster green industries and green finance, speed up the building of green cooperation in the Asia-Pacific, and ensure that the Asia-Pacific region leads the world in economic development.

        Ladies and Gentlemen, Friends,

        China’s development has benefited from the Asia-Pacific, and it has also benefited the Asia-Pacific with its own development. The Chinese economy and the Asia-Pacific economy are interdependent and deeply integrated. China has become a major trading partner of many Asia-Pacific economies and an important node of regional industrial and supply chains. China will stay committed to building an Asia-Pacific community with a shared future and contribute more to stability and prosperity in the region.

        Not long ago, the Communist Party of China successfully held its 20th National Congress, drawing up a master plan for China’s development at present and in the future, and stressing the need to promote Chinese-style modernization in an all-round way.

        To date, there are no more than 30 industrialized countries in the world with a combined population of less than 1 billion. The modernization of China’s 1.4 billion-plus population will be an unprecedented event in the history of human development. In the final analysis, better economic and social development in China needs to unleash the power of its over 1.4 billion people. We will continue to put people first, continue to improve people’s living standards, raise the number of middle-income people to more than 800 million in the next 15 years, and promote the continuous development of the super-large market.

        As an ancient Chinese saying goes, “The way to run a country begins with enriching the people.” China has won the battle against poverty and completed the building of a moderately prosperous society in all respects. To achieve common prosperity, we need to better meet the people’s needs for a better life, gradually achieve overall and universal prosperity, integrate the market with the government, and balance efficiency with fairness, distribute the pie well while making it bigger, and create an olive-shaped distribution structure. The purpose of my global development initiative is to address the problem of unbalanced development. China is working with more than 100 countries and international organizations to implement the initiatives and the outcomes of this year’s High-Level Dialogue on Global Development. China is ready to increase resource input for global development cooperation and work with other parties to build a global development community.

        — As I said before, when tall buildings are rising all over the land of China, the edifice of the Chinese national spirit should also stand tall. We will continue to raise the material and moral standards of our people, to secure adequate storage and food in our granaries, and to ensure that we all know our manners and honor. We stand for equality, mutual learning, dialogue and inclusiveness among civilizations. Countries around the world advocate the common values of peace, development, fairness, justice, democracy and freedom for all mankind. We should replace estrangement, clash and superiority with exchanges, mutual learning and coexistence, and contribute to the balanced, positive and positive development of world civilization.

        Chinese modernization must take a new path of harmonious coexistence with nature. This is a responsibility to ourselves and to the world. In recent years, we have adhered to the concept that clean waters and lush mountains are invaluable assets, promoted all-round green transformation of economic and social development, and worked hard to build a beautiful China with blue sky, green land and clear water.

        China has set the goal of peaking its carbon footprint by 2030 and achieving carbon neutrality by 2060. This is our solemn commitment to the international community. Over the past decade, China has been one of the fastest reducing countries in the world in terms of energy intensity. It has exceeded its target of reducing carbon intensity by 40% to 45% by 2020, reducing carbon dioxide emissions by 5.8 billion tons. China has built the world’s largest carbon market and clean power generation system. We hope that all parties will strengthen cooperation, stay committed to the path of green and low-carbon transition, and jointly build a community of human and natural life.

        — What the Chinese people want most is peace and stability. The path of peaceful development is a strategic choice made in accordance with the fundamental interests of the Chinese people. We stand firmly on the right side of history, hold high the banner of peace, development, cooperation and mutual benefit, and seek our own development while resolutely upholding world peace and development. In turn, we will better uphold world peace and development through our own development.

        Ladies and Gentlemen, Friends,

        For a long time, the Asia-Pacific business community has been an important force driving regional economic growth. It has been said that entrepreneurs are both short-term pessimists and long-term optimists. If there is no sense of security, enterprises can not do well; Companies don’t grow without positive expectations of long-term trends. I hope friends from the business community will give full play to their entrepreneurial spirit, actively promote economic cooperation, actively participate in China’s reform, opening up and modernization drive, and contribute positive energy to the development and prosperity of the Asia-Pacific and the world at large.

        Thank you very much.

Article source：Ministry of Commerce of the People’s Republic of China