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President urges 'open development' in APEC speech
By:China Daily
update:November 13,2017


Nov. 13, 2017 -- Chinese President Xi Jinping delivers a keynote speech at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Da Nang, Vietnam, Nov. 10, 2017. (Xinhua/Li Tao)

Nov. 13, 2017 -- President Xi Jinping once again highlighted the importance of open economies and inclusive development for a new round of global prosperity on Saturday, the second day of his attendance at APEC events.

Xi made the remark while speaking at the 25th Asia-Pacific Economic Cooperation Economic Leaders' Meeting in the coastal Vietnamese city of Da Nang.

The 21 APEC members should promote innovation as a strong growth driver and open up their economies to create more space for development, Xi said.

"History has taught us that closed-door development will get nowhere, while open development is the only right choice," he told APEC leaders.

While addressing the APEC CEO Summit on Friday, Xi had also called on APEC members to build open economies and pursue inclusive development.

On Saturday, the president said APEC members should remain true to the group's founding purpose: to advance trade and investment liberalization and facilitation, build an open economy, uphold and strengthen the multilateral trading regime and help rebalance economic globalization.

"We need to take determined steps toward a Free Trade Area of the Asia-Pacific in line with the agreed road map, and herald a new round of development in the Asia-Pacific in the course of opening-up," he said.

Zhang Jun, director-general of the Foreign Ministry's international economics department, said at a news conference in Da Nang on Saturday that this year's APEC Economic Leaders' Week has achieved proactive results that consolidate Asia-Pacific regional cooperation among member economies.

"Clear messages have been delivered by President Xi that China's development is entering into a new stage," said Zhang. "Many leaders speak highly of the proposition raised by President Xi, having great prospects for China's future development and expecting to participate in international cooperation based on the Belt and Road Initiative to facilitate regional prosperity and development."

Chen Xiangyang, director of the Crisis Management Research Center of the China Institutes of Contemporary International Relations, said that Xi's speech has expressed China's strong confidence and responsibility as the world's second-largest economy.

"Leading by the new Thought in a new era after the 19th CPC National Congress, China will become the anchor of peace and stability in the Asia-Pacific region, and the experience of China's development will continue to drive the world's growth," said Chen.

Founded in 1989, APEC, with 21 members, now accounts for about 40 percent of the global population, 60 percent of global economic output and 48 percent of global trade.

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