GYEONGJU (South Korea); Chinese President Xi Jinping said China offers a vast platform for innovation and cooperation to the global business community, as the country continues to drive economic growth and technological progress.
In a written speech titled “Putting the Asia-Pacific at the Forefront of the Joint Endeavor for World Development and Prosperity” delivered at the APEC CEO Summit in Gyeongju, Xi emphasized that the world is facing profound changes and must make responsible choices that promote peace and development.
“Humanity shares a common destiny,” Xi stated, warning that hegemonism leads to conflict, while cooperation and justice ensure progress. He reiterated China’s commitment to upholding international order and promoting true multilateralism.
Xi highlighted China’s key global initiatives — the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative — as solutions based on Chinese wisdom for global challenges.
The Chinese president announced that China will host APEC for the third time next year, pledging to work with partners to advance regional peace and economic prosperity. He urged APEC members to recommit to openness, inclusiveness, and shared growth.
Xi outlined four key priorities for Asia-Pacific nations: safeguarding peace through dialogue, enhancing openness and connectivity, promoting win-win cooperation, and ensuring inclusive growth for all. He called for strengthening the multilateral trading system, stabilizing supply chains, and implementing the UN 2030 Sustainable Development Agenda.
Xi noted that China has been a major engine of global growth, maintaining an average annual growth rate of 5.5 percent over the past five years and contributing around 30 percent to global economic expansion.
Highlighting China’s vast market potential, Xi said the country remains committed to opening up further. “There are only 29 items left on China’s negative list for foreign investment, and none in the manufacturing sector,” he noted, adding that the services sector will continue to open up.
He stressed that China provides a fair, safe, and transparent business environment, where both domestic and foreign enterprises can compete and thrive.
Xi further emphasized China’s transformation toward a green, digital, and smart economy. “We are developing future industries, expanding renewable energy, and upgrading traditional sectors. China can provide enabling conditions for green growth for global businesses,” he said.
Calling China a “safe and promising destination for investors,” Xi said partnering with China means “embracing opportunities and investing in the future.”
He urged Asia-Pacific businesses to remain innovative, resilient, and cooperative, adding that entrepreneurship and openness are key to shaping a prosperous future for the region and the world.
