Xi’s APEC keynote speech shows China’s wisdom, sense of responsibility

The keynote speech of Chinese President Xi Jinping at the 25th APEC Economic Leaders’ Meeting in Vietnam outlined pragmatic ways in which the economic environment in the Asia-Pacific region can be improved – by furthering economic globalization, fostering an open economy and promoting trade and investment liberalization.

His emphasis on the importance of an open economy, innovation-driven development, connectivity and inclusive development shows China’s insight on global economic governance and commitment to common development. It also shows the responsible role China has assumed in international affairs, contributing Chinese wisdom to global development.

At a time when some countries are turning their backs on economic globalization, China has lived up to its responsibility by pursuing the irreversible trend.

China has also lived up to its responsibility by adapting to new situations with initiative and promoting structural reform for progress.

As the world’s second-largest economy, China has over the past five years taken proactive steps to adapt to the new normal of its economy and deepened supply-side structural reform. As a result, the Chinese economy has maintained steady performance, steering toward a better-quality, more efficient, fairer and more sustainable development. Over the past four years, China’s economy has grown by 7.2 percent on average annually, contributing over 30 percent of global growth.

China has lived up to its responsibility by offering viable solutions to the thorny problems facing the world economy.

Last but not least, China has been pursuing shared development benefits across the globe. The call to deepen regional economic integration, developing an open and inclusive market, and strengthening the bond of shared interests attests to that.