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

Noting that next year will mark the 40th anniversary of China's reform and opening-up, Xi said that in nearly four decades China has opened its arms to embrace the world and achieved "leapfrog development" in the process.

"Looking ahead, China will open still wider and its development will deliver even greater benefits to the rest of the world," he said.

He told the other APEC economic leaders that starting next year, China will hold an international import expo.

"I am sure this new platform of mutually beneficial cooperation will help all parties better share the opportunities of China's development," he said.

The leader of the world's second-largest economy also underlined the role of innovation in driving China's economic development in recent years.

He said online retail sales in China, which now has 750 million internet users, are growing by 30 percent a year, with the "sharing economy "volume having reached 3.5 trillion yuan ($527 billion) and mobile payment transactions having exceeded 158 trillion yuan.

Xi called for greater efforts to address the lack of inclusiveness in development, which is a problem facing many economies, in a bid to enable more people to share the benefits of development.

He asked APEC members to develop a stronger sense of community, harmonize their policies and create synergy.

"As we have agreed on the direction and framework of an Asia-Pacific partnership, it is time to take solid steps toward this goal," he said.

In addition, Xi, who is also general secretary of the Communist Party of China Central Committee, briefed the other leaders on last month's 19th CPC National Congress, which drew a blueprint for China's development in the next five years and beyond.

China will bring more opportunities and make greater contributions to the Asia-Pacific and the world at large, Xi said.

During the second phase of the meeting on Saturday afternoon, the APEC economic leaders discussed the new driving forces for trade and investment.

They agreed that the FTAAP process should be advanced and that inclusive development must be boosted to enable all parties to benefit from economic globalization.

A declaration was issued following the conclusion of the 25th APEC Economic Leaders' Meeting, which was held on Friday and Saturday using the theme of "Creating New Dynamism, Fostering a Shared Future".

On Saturday morning, Xi and the other leaders also held a dialogue with Christine Lagarde, managing director of the International Monetary Fund, on the global economic situation. Xi gave a briefing about China's economy.

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