Business Daily Media

Men's Weekly

.

China empowers the development of Asia-Pacific region

LIMA, PERU - Media OutReach Newswire - 18 November 2024 - Chinese President Xi Jinping has wrapped up his state visit to Peru, where he addressed the 31st APEC Economic Leaders' Meeting and gave a written speech at the APEC CEO Summit.

At these key meetings, President Xi emphasized China's commitment to fostering an inclusive, balanced, innovative and green global economy.

President Xi Jinping in Peru: China
President Xi Jinping in Peru: China's 'neighbor' across the ocean

This year's APEC adopted the theme "Empower. Include. Grow." Against a backdrop of global uncertainties, Xi highlighted pressing challenges facing the Asia-Pacific region and presented China's proposals to enhance the region's development while building a shared future for its nations.

Reform and opening up
"Asia-Pacific cooperation is confronted with challenges, such as rising tendencies of geopolitics, unilateralism and protectionism. At this historic crossroads, we Asia-Pacific countries carry greater responsibilities on our shoulders," Xi said at the APEC Economic Leaders' Meeting on November 16.

Earlier this month, the seventh Hongqiao International Economic Forum released the World Openness Report 2024, which measured the openness levels of 129 economies from 2008 to 2023 and showed that the world's opening-up level declined over the past year.

In his written speech at the APEC CEO Summit on November 15, Xi highlighted the necessity of global economic governance reform and economic globalization to empower the Asia-Pacific economy for long-term growth. Economic globalization has always been the general trend, he said.

China has continued to push for reform and opening up. It has introduced measures to advance the process of opening up in sectors such as telecommunications, education and healthcare. Additionally, China remains active in advancing regional agreements, such as the Regional Comprehensive Economic Partnership (RCEP), and pursuing membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).

The signing of a protocol to upgrade the China-Peru Free Trade Agreement and ongoing negotiations for the China-ASEAN Free Trade Area 3.0 also reflect China's commitment to fostering cross-border trade and economic collaboration.

Inclusive development
Global prosperity and stability cannot be achieved when the rich get richer and the poor poorer, Xi said in the written speech, noting true development means common development of all countries. "We should pursue economic globalization that is people-centered and delivers more balanced development and more equal opportunities, so that different countries, classes and communities can all benefit from development," he said.

This philosophy aligns with China's domestic and international actions. China's domestic achievements in poverty alleviation stand out as a key example. Over the past four decades, nearly 800 million people have been lifted out of poverty, marking one of the largest anti-poverty initiatives in history.

Internationally, China has supported developing nations through the Belt and Road Initiative (BRI), which spans infrastructure, energy and trade projects. For instance, BRI project Chancay Port. The mega project, which was inaugurated on November 14 with President Xi and Peruvian President Dina Boluarte attending the opening ceremony via video link, connects Peru to regional markets and boosts its economic development.

At the APEC meetings, China proposed initiatives aimed at enhancing household incomes and supporting small and medium-sized enterprises across the region. These steps are designed to foster a more inclusive economic landscape, enabling diverse countries, communities and social groups to share in development outcomes.

Innovation-driven growth
"We should make full use of artificial intelligence and other emerging technologies to rev up the world economy and stimulate its growth with the current technological revolution," Xi said in the written speech at the APEC CEO Summit.

China's contributions to technology and innovation have had far-reaching impacts. It has been responsible for over 40 percent of the annual additions to global renewable energy capacity since 2013. In 2023, the newly installed capacity in China accounted for more than half of the world's total, according to a white paper released by China's State Council Information Office.

In the digital realm, China's leadership in 5G technology has enabled rapid advancements in telecommunications and smart city development. Shenzhen, often referred to as China's "Silicon Valley," has become a global hub for innovation, housing companies like Huawei and Tencent.

During the APEC meetings, China unveiled its plans for a Global Cross-Border Data Flow Cooperation Initiative and proposed measures to support digital trade, green supply chains and AI collaboration. These initiatives aim to create a more sustainable and innovation-driven growth model for the Asia-Pacific region.

https://news.cgtn.com/news/2024-11-18/How-China-empowers-the-development-of-Asia-Pacific-region-1yCsGRJVtDO/p.html
Hashtag: #CGTN

The issuer is solely responsible for the content of this announcement.

News from Asia

Momcozy Ergonest Maternity Belly Band Nominated for Prestigious Kind+Jugend Innovation Award 2025

LONDON, UK - Media OutReach Newswire - 27 August 2025 - Momcozy, a leading maternity and baby brand trusted by over 3.6 million mothers worldwide, is proud to announce that its Ergonest Maternity...

Or Tor Kor Elevates Thai Agricultural Products on the Global Stage with "IFEX Connect 2025" in Manila

BANGKOK, THAILAND - Media OutReach Newswire - 23 May 2025 - The Marketing Organization for Farmers (Or Tor Kor), under the Ministry of Agriculture and Cooperatives, is set to spotlight Thailand's ...

Event Captions And Video Search Bring Evolving Intelligence To Arlo Secure Subscribers

Smarter experiences, automatically. Stay equipped with the latest AI-driven features.SINGAPORE - Media OutReach Newswire - 28 August 2025 - Arlo Technologies, Inc. (NYSE: ARLO), a leading innovat...

NIA Advances Strategic Plan to Empower Thai Innovation Businesses with Knowledge, Funding, and Global Networks to Drive Thai Innovation onto the World Stage

BANGKOK, THAILAND - Media OutReach Newswire - 28 August 2025 - The National Innovation Agency (Public Organization), or NIA, under the Ministry of Higher Education, Science, Research and Innovatio...

SIBUR Produces Test Batch at First Hexene Facility in Russia and CIS

MOSCOW, RUSSIA - Media OutReach Newswire - 28 August 2025 - SIBUR has produced the first test batch of hexene – a key component in the production of premium grades of polyethylene – at the first h...

HKPC Debuts Formnext Asia Shenzhen 2025 for the First Time As a Technical Partner Leveraging AI and 3D Printing to Drive Future Manufacturing

Empowering Businesses Expand Globally and Foster New Productivity ForcesHONG KONG SAR - Media OutReach Newswire - 28 August 2025 - The Formnext Asia Shenzhen 2025 (exhibition) was held from 26 to ...

VinFast delivers Lạc Hồng fleet for international leaders at Vietnam’s 80th National Day celebration

HANOI, VIETNAM - Media OutReach Newswire - 28 August 2025 - VinFast has officially handed over a special fleet of Lạc Hồng 900 LX vehicles, built to serve international heads of state, to Vietnam...

XTransfer Hosts "2025 TradeVision Summit"

Announces “Export Purchasing Manager Index” of China B2B Export Outlook Remains Positive in July 2025HONG KONG SAR - Media OutReach Newswire - 28 August 2025 - XTransfer, the World's Leading &...

Grade A Offices: Tenant Advantages Deepen with Greater Flexibility and Choice Greater China Top Office Supply/Demand Trends

HONG KONG SAR - Media OutReach Newswire – 28 August 2025 - Cushman & Wakefield, a leading global real estate services firm, today released its annual Greater China Top Office Supply/Demand T...

USS Hornet Museum to Host Event Commemorating U.S.-China Cooperation in WWII

BEIJING, CHINA - Media OutReach Newswire - 28 August 2025 - A joint event marking the 80th anniversary of the Allied victory in World War II will be held at the USS Hornet Sea, Air & Space Mus...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

The cost of ignoring AI governance in business

Artificial intelligence (AI) is no longer the promise of a distant future: it's active, embedded, and already shaping decisions across industries. H...

Quickli launches new SMSF product as free beta for limited time only

The leading technology provider for Australian mortgage brokers, Quickli, has answered the prayers of brokers yet again with the launch of a stand...

Portable Monitors for Coding and Programming Students

Today, coding and programming require more focus and efficiency. But, the most essential thing it demands is ample screen space. Students can stru...

Sell by LayBy