Chinese President Xi Jinping on Saturday delivered an important speech at the 31st APEC Economic Leaders' Meeting under the title "Shouldering Responsibility to Our Times And Jointly Promoting Asia-Pacific Development."

Following is the English version of the full text of the speech:

Shouldering Responsibility to Our Times And Jointly Promoting Asia-Pacific Development

Remarks by H.E. Xi Jinping

President of the People's Republic of China

At the 31st APEC Economic Leaders' Meeting

Lima, November 16, 2024

Your Excellency President Dina Boluarte,

Colleagues,

It is my great pleasure to visit the beautiful garden city of Lima again after eight years and join you in discussing Asia-Pacific cooperation. I wish to thank President Boluarte and the Peruvian government for the excellent organization of this meeting.

Over the decades, APEC has been instrumental in leading Asia and the Pacific to great success in development, prosperity and connectivity, making the region the most dynamic economy and primary engine of global economic growth. The world today is gripped by accelerating transformation unseen in a century as well as anemic growth. The World Openness Index has been on the decline. Asia-Pacific cooperation is confronted with challenges such as rising tendencies of geopolitics, unilateralism and protectionism. At this historic crossroads, we Asia-Pacific countries carry greater responsibilities on our shoulders. We must act in solidarity and cooperation to meet the challenges, fully deliver on the Putrajaya Vision 2040, build an Asia-Pacific community with a shared future, and start a new era in Asia-Pacific development. To this end, I wish to propose the following.

First, we need to build an open and interconnected paradigm for Asia-Pacific cooperation. We should stay committed to multilateralism and an open economy, firmly uphold the multilateral trading system with the World Trade Organization at its core, fully reactivate APEC's role as an incubator of global economic and trade rules, and advance regional economic integration and connectivity. We should tear down the walls impeding the flow of trade, investment, technology and services, uphold stable and smooth industrial and supply chains, and promote economic circulation in the region and the world. A Free Trade Area of the Asia-Pacific (FTAAP) is an ambitious vision for regional economic integration, and is critical for long-term development and prosperity of our region. Ten years ago, a historic decision to kick off the FTAAP process was taken at the APEC Economic Leaders' Meeting in Beijing. Today, we will adopt a new document to guide this process. I believe that this will give new impetus to our efforts toward an open Asia-Pacific economy.

Opening up is a distinct hallmark of Chinese modernization. China always promotes reform through opening up. We voluntarily subscribe to high-standard international economic and trade rules, adopt proactive measures for further opening up, and take systematic steps to further open the telecom, Internet, education, culture, medical service and other sectors. We continue to implement the Regional Comprehensive Economic Partnership (RCEP) against high standards. We are also working actively to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). We have just signed a protocol to upgrade the free trade agreement with Peru, and have substantially concluded negotiations with ASEAN to upgrade to free trade area 3.0. Together with the relevant parties, we will seek to discuss trade agreements in digital and green areas, and steadily expand the globally-oriented network of high-standard free trade areas.

Second, we need to make green innovation a catalyst for the Asia-Pacific. We need to firmly seize the opportunities presented by the new round of sci-tech revolution and industrial transformation, and strengthen exchanges and cooperation in artificial intelligence (AI), quantum information, life and health, and other frontier areas. We need to foster an open, fair, just and nondiscriminatory ecosystem for innovation, and promote a leapfrog development of productive forces across our region. To build a clean and beautiful Asia-Pacific, we should prioritize ecological protection, promote resources conservation and their efficient use as well as green and low-carbon development, and engineer an all-round green transition in economic and social development. We need to push forward coordinated digital and green transformation and development to create new momentum and new drivers for Asia-Pacific development.

China is developing new quality productive forces in light of actual conditions and deepening cooperation with interested parties on green innovation. China will launch a Global Cross-Border Data Flow Cooperation Initiative, and seek deeper cooperation with other parties to promote efficient, convenient and secure cross-border data flows. China has put forward initiatives in the APEC framework concerning, among others, the application of digital bill of lading, capacity building on green supply chains, exchanges and dialogue on approaches to AI, and the digitalization of food supply chains, with a view to contributing to high-quality development of the Asia-Pacific.

Third, we need to uphold a universally beneficial and inclusive vision for Asia-Pacific development. We should make good use of the APEC platform to strengthen economic and technical cooperation. We should increase support for developing economies and disadvantaged groups, and work together to grow the pie and distribute it equitably to allow more economies and people to benefit from development. This year, Peru has been actively promoting cooperation on the transition from the informal economy to the formal and global economy. China welcomes this effort which dovetails with our development philosophy of putting people first, promoting social fairness and justice and improving the people's well-being. China will advance initiatives through the APEC platform on increasing residents' income and promoting the industrial cluster development of small and medium-sized enterprises, for the purpose of bringing about universally beneficial and inclusive development of Asia-Pacific economies.

China will host APEC 2026. We look forward to working with all parties to deepen Asia-Pacific cooperation to the benefit of the peoples in the region.

Colleagues,

Reform and opening up is a historic process in which China and the world achieve development and progress together. A few months ago, the 20th Central Committee of the Communist Party of China, at its third plenum, laid out systematic plans for further deepening reform across the board to advance Chinese modernization. More than 300 consequential reform measures were unveiled pertaining to building a high-standard socialist market economy, advancing high-quality economic development, promoting high-standard opening up, improving the people's quality of life, and building a beautiful country. China's further development will provide new opportunities for the Asia-Pacific region and the world at large.

An ancient Chinese sage observed, "A man of virtue, while establishing himself and pursuing success, also works to help others establish themselves and succeed." There is a similar saying in Latin America which goes, "The only way to be profitably national is to be generously universal." China welcomes all parties to continue riding the "express train" of its development and grow together with the Chinese economy so that we can all contribute to the modernization of all countries featuring peaceful development, mutually beneficial cooperation and common prosperity.

Thank you. 

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