Why this APEC meeting is drawing so much attention

Illustration: Xia Qing/GT

The Asia-Pacific family is once again embracing an important moment. From Friday to Saturday, leaders and representatives of 21 economies in the region will gather in Gyeongju, South Korea, for the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting under the theme "Building a Sustainable Tomorrow." President Xi Jinping will deliver an important speech and hold bilateral meetings with leaders of relevant countries. This will also mark President Xi's first overseas visit after the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC). Against the backdrop of global economic uncertainty, rising protectionism and accelerated technological transformation, how should we write "Asia-Pacific's tomorrow"? "Chinese wisdom" and "Chinese solutions" have become one of the focal points of attention at this APEC meeting.

At the 30th APEC Economic Leaders' Meeting, President Xi proposed working together to create the next "golden 30 years" of Asia-Pacific development. The recently adopted Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for National Economic and Social Development are highly aligned with the Asia-Pacific region's development demand for the next three decades. The proposals - including actively expanding voluntary opening-up, promoting innovative growth in trade, broadening two-way investment cooperation and advancing high-quality cooperation under the Belt and Road Initiative - will open up broader space for cooperation between China and other Asia-Pacific economies.

Today, the Asia-Pacific region accounts for one-third of the world's population, over 60 percent of the global economy, and nearly half of global trade. This achievement would not have been possible without the opportunities brought to the Asia-Pacific region by economic globalization. History and practice have repeatedly demonstrated that openness and cooperation, as well as integrated development, are the key factors behind the "Asia-Pacific miracle." As the region's highest-level, broadest-scope and most influential economic cooperation mechanism, APEC has continually advanced regional trade and investment liberalization and facilitation. These efforts have propelled sustained development, prosperity and connectivity across the region, solidifying its position as the world's most dynamic area economically and primary growth engine.

APEC's broader significance lies in its transformation of the world's most expansive ocean into a "sea of cooperation" and "ocean of connectivity." Today, the world stands at a new crossroads. Geopolitical rifts are tearing apart the integrity of industrial chains, while discordant voices advocating "decoupling and breaking chains" and "small yard, high fence" ring out incessantly. The Asia-Pacific region now faces common challenges that transcend national borders. No unilateral approach or formation of exclusive blocs can effectively resolve these issues. APEC's enduring relevance rests in reaffirming a fundamental truth: The prosperity of the Asia-Pacific is rooted in cooperation, not confrontation. What we need is not an "Indo-Pacific Strategy" that creates divisions and stirs up confrontation, but an Asia-Pacific community with a shared future that embraces all members. The spirit of openness and inclusiveness embodied by APEC represents the optimal solution to our shared challenges and the right choice for drawing the largest possible "circle of common ground."

At present, China is at a critical juncture in advancing Chinese modernization, and the high-quality development and high-level opening-up pursued by Chinese modernization will create unprecedented opportunities for the region. The transition of a super-sized market of over 1.4 billion people toward higher-quality, greener and smarter development will provide APEC members with sustained, stable and expanding market demand. China's innovative practices in new energy, artificial intelligence and the digital economy will also offer powerful technological impetus for industrial transformation and upgrading across the Asia-Pacific. A stable, prosperous and open China stands as the most reliable stabilizer for the regional economy.

More importantly, APEC's vitality lies in its commitment to genuine multilateralism. As a staunch supporter and active promoter of Asia-Pacific regional cooperation, China's vision of a community with a shared future for humanity aligns closely with APEC's spirit of openness, inclusiveness, cooperation and mutual benefit. China's four major global initiatives provide key public goods and practical pathways for fully realizing the Putrajaya Vision 2040 goal of building an "open, dynamic, resilient and peaceful Asia-Pacific community." The practice of Chinese modernization, together with the implementation of these global initiatives, will continue to bring stability and certainty to the region. China has consistently advocated for inclusive economic globalization and remains a proactive force committed to common prosperity in the Asia-Pacific region.

China is set to host APEC in 2026, marking the third time it assumes this role. This not only represents the high recognition by Asia-Pacific economies of China's development achievements and cooperative sincerity, but also signifies greater responsibility and commitment.

As Asia-Pacific economies join hands to forge a shared path to development, a new "golden 30 years" is gradually unfolding. The high-level opening-up China will advance during its 15th Five-Year Plan period resonates strongly with APEC's vision of "building a sustainable tomorrow." In this era of both challenges and opportunities, may the Asia-Pacific family, with wisdom and courage, work together to build a more prosperous and sustainable future.