Working together to build an Asia-Pacific community with a shared future

Editor's note: Xin Ping is a commentator on international affairs, writing regularly for Xinhua News Agency, CGTN, Global Times, China Daily, etc. The article reflects the author's views and not necessarily those of CGTN.

Accounting for more than 60 percent of all growth, the Asia-Pacific is the most important engine of the global economy. Today, the world has reached another historical crossroads, making the Asia-Pacific region even more important and prominent in its standing. The Asia-Pacific Economic Cooperation (APEC) has played a robust role in promoting Asia-Pacific trade and investment liberalization and facilitation, economic growth, technological and innovation cooperation, and the flow of goods and people since its establishment.

Under the theme "Empower, Include, Grow," this is the third time that Peru has hosted the APEC Economic Leaders' Meeting. Building on its success in hosting the 2008 and 2016 meetings, Peru has maintained a focus on strategies and pathways to enhance trade and investment for inclusive and interconnected growth, innovation and digitalization to promote the transition to the formal and global economy and sustainable growth for resilient development. This year's APEC meeting has sent a clear and firm message to the international community that all APEC members are working together to build an Asia-Pacific community and boost regional economic integration and sustainable development.

The Asia-Pacific region is home to one-third of the world's population and accounts for nearly half of international trade. China always attaches great importance to Asia-Pacific cooperation, as it is the foundation of our development and prosperity. And Peru, though on the other side of the ocean, is a neighbor of China connected by the Pacific. At the recent APEC meeting in Lima, Chinese President Xi Jinping highlighted APEC's role as a pioneer and champion of economic cooperation in the Asia-Pacific and the world at large and proposed a series of key initiatives, injecting impetus into cooperation in the Asia-Pacific and the development of the global economy.

China has introduced initiatives to promote high-quality development and achieve inclusive development of Asia-Pacific economies, such as capacity building on green supply chains, exchanges and dialogue on artificial intelligence approaches, the digitalization of food supply chains, increasing residents' income and promoting the industrial cluster development of small and medium-sized enterprises.

China will also host the APEC Economic Leaders' Meeting in 2026, which will be the third time the country hosts this prestigious gathering since APEC's founding in 1989. It first hosted the APEC meeting in 2001, before joining the World Trade Organization (WTO), which promoted its integration into the regional economy. By the time China hosted the APEC meeting for the second time in 2014, it had become the world's second-largest economy, driving global growth through deeper integration into the world economy.

China is one of the most important economies in the Asia-Pacific region and has made important contributions to world economic growth. Over the past four decades, it has achieved an average GDP growth rate of 8.9 percent, much higher than the global average of 3.0 percent, contributing 24.8 percent of global growth. The International Monetary Fund estimates that every 1 percent increase in China's growth rate boosts global economic growth by 0.3 percent. This year, China's economy has maintained a stable and positive trend, with its macroeconomic policy implemented in a precise and robust way. China's GDP in the first three quarters recorded a year-on-year increase of 4.8 percent. 

In the course of pursuing high-quality development, its economic growth will bring new opportunities to the region. A prosperous and strong China not only serves the fundamental interests of the Chinese people but also benefits the people of the Asia-Pacific and the world at large. Following its path to modernization, China will continue to advance a broader agenda of opening-up across more areas and in greater depth, and it will also share its development opportunities with the world, particularly the Asia-Pacific region.

While staying committed to openness and inclusiveness, China will always strive to advance high-quality Belt and Road cooperation, facilitate connectivity in the Asia-Pacific, and work with other parties on the full and high-quality implementation of the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement to promote integrated development of the Asia-Pacific region.

Additionally, China has proposed the Global Development Initiative (GDI) to accelerate the implementation of the UN 2030 Agenda and achieve a more robust, greener and more balanced global development. The GDI has received positive responses from the international community and wider participation is encouraged to ensure the sustainable development of the region and beyond.

Development and prosperity in the Asia-Pacific belong to all the people of the region. We should continue to support APEC in playing its role and make unremitting efforts to realize a future of openness, inclusiveness, innovation-driven growth, greater connectivity and mutual benefit. Together, we can build an Asia-Pacific community with a shared future and take Asia-Pacific cooperation to new heights.

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