China understands and respects Chile's decision of cancelling the Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting scheduled for November, said Chinese Foreign Ministry Spokesperson Geng Shuang at a regular press briefing on Thursday.

More: Chile says it can't host APEC, COP25 after protests

"We believe that the government and people of Chile have the ability to safeguard the country's stability and social peace, as well as restore order as soon as possible," said the spokesperson.

Lauding Chile's considerable work in preparing for the meeting, Geng said Chile made headway in promoting APEC cooperation in key areas.

"APEC is an important platform for economic cooperation in the Asia-Pacific region and has made important contributions to promoting economic development and the improvement of people's livelihoods in the region," he said, adding that China attaches great importance to APEC and stands ready to work with other partners to ensure APEC continues to play an important role in Asia-Pacific and global economic cooperation.

Previously on Wednesday, Chilean President Sebastian Pinera cited ongoing social crisis in Chile as the reason for not hosting the APEC and COP25 events scheduled for November and December, respectively.

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