When China hosted the Asia-Pacific Economic Cooperation (APEC) summit for the first time in 2001, it stood on the verge of joining the World Trade Organization, signaling its intent to integrate more fully into the global economy.
By the time China hosted APEC again in 2014, it had already established itself as a leading economic power, achieving remarkable growth through deeper global integration.
Now preparing to host APEC once more, China aims to unite Asia-Pacific countries around the principles of open economic cooperation and reject protectionist and divisive trade strategies.
During the 31st APEC Economic Leaders’ Meeting in Lima, Peru, on Saturday, President Xi Jinping announced China’s intention to host APEC leaders again in 2026.
“We are eager to collaborate with all parties to enhance Asia-Pacific cooperation for the well-being of regional populations,” Xi stated.
Carlos Vasquez, the 2024 chair of APEC senior officials, highlighted that China’s previous hosting experiences demonstrated its capacity to foster consensus among participating economies.
Vasquez noted China’s crucial role alongside other major economies in building consensus from the beginning of the APEC 2024 year in Peru and emphasized its expected influential role when hosting APEC in 2026.
During his address, Xi called on APEC members to work in solidarity to confront challenges, fulfill the Putrajaya Vision 2040, and build a future-focused Asia-Pacific community.
The Putrajaya Vision 2040, adopted by APEC leaders in 2020, outlines a goal of creating an open, dynamic, resilient, and peaceful Asia-Pacific community that benefits current and future generations.
However, achieving this vision faces challenges such as geopolitical tensions, economic disruptions driven by unilateral policies, and attempts at “decoupling” and “de-risking.”
Xi underscored the importance of multilateralism and an open economy, calling for the revitalization of APEC’s role in shaping global trade rules, advancing regional economic integration, and strengthening the multilateral trading system centered on the World Trade Organization.
Experts and Officials praise China’s role
Experts and officials in the Asia-Pacific, acknowledged China’s success through high-quality openness and recognized its deep commitment to fostering a global economic system centered on multilateral cooperation and shared benefit.
Woo Su-keun, director of the Institute of East Asian Studies of Korea, highlighted China’s alignment with APEC’s values of openness, inclusion, and mutual benefit, emphasizing that countries must demonstrate leadership through concrete actions.
Ong Chong Yi, executive director of the Malaysian think tank Belt and Road Initiative Caucus for Asia-Pacific, praised China’s market access initiatives, which have driven inclusive regional economic growth, as well as its support for infrastructure development in developing nations to promote connectivity and inclusivity.
In his speech, Xi also emphasized the critical role of green innovation in driving Asia-Pacific development, advocating for coordinated digital and green transformations to generate new momentum.
China’s role as a major investor in global green transformation, including support for sustainable development in the Global South, was acknowledged by Nikorndej Balankura, spokesperson for Thailand’s foreign ministry.
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Full text of President Xi Jinping’s written speech at APEC CEO Summit
