Xi says China provides vast platform of innovation for global business community

GYEONGJU, South Korea - Chinese President Xi Jinping said on Friday that China can provide a vast platform of innovation for the global business community.

Xi made the remarks in a written speech (full text) titled "Putting the Asia Pacific at the Forefront of the Joint Endeavor for World Development and Prosperity," which was delivered at the APEC CEO Summit in the South Korean city of Gyeongju.

Xi said that the international landscape is fraught with changes and turbulence, and the world has come to a new crossroads. "What we choose will profoundly affect the future of the world. We must have vision, step up to our responsibility, and choose what meets the expectation of the people in the Asia Pacific and stands the test of history," he said.

"History attests that humanity shares a common destiny. While hegemonism causes only war and disaster, fairness and justice ensure global peace and development. While confrontation and antagonism breed only estrangement and turbulence, win-win cooperation proves to be the right way forward. While unilateralism precipitates division and regression, multilateralism is the viable option for tackling global challenges," Xi said.

"China always upholds the current international order and practices true multilateralism. China has successively put forward the Belt and Road Initiative as well as the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative and the Global Governance Initiative. They are China's solutions to the salient issues across the world, based on Chinese wisdom," he said.

"Next year, China will host APEC for the third time. We will work together to build an Asia Pacific community, so as to further boost peace and development in the Asia Pacific and the wider world," Xi said.

"Founded in response to the trend of economic globalization, APEC takes it as its objective and purpose to promote trade and investment liberalization and facilitation, and support economic growth and prosperity," he said.

Xi called on APEC to renew its commitment to the founding mission and make outstanding contributions to the world through more vibrant and resilient Asia Pacific cooperation.

"First, we should take the lead in safeguarding peace and stability. We must always ensure the equal right of all countries to participate in international affairs regardless of their size, strength or wealth. We should embrace the vision of common, comprehensive, cooperative and sustainable security, and resolve differences and disputes through dialogue and consultation," he noted.

"Second, we should take the lead in enhancing openness and connectivity. We should firmly safeguard the WTO-centered, rules-based multilateral trading system, strengthen solidarity and collaboration, keep global industrial and supply chains stable and unimpeded, advance regional economic integration, push forward the Free Trade Area of the Asia Pacific, and play the Asia Pacific part in global economic growth," Xi said.

"Third, we should take the lead in promoting win-win cooperation. We should stay true to the vision of harmony without uniformity, fully leverage the diversity of Asia Pacific economies, draw on each other's strengths, and jointly make the pie of Asia Pacific cooperation bigger. We should foster an environment of cooperation to achieve success and development for all economies," he continued.

"Fourth, we should take the lead in pursuing benefits for all and inclusiveness. We should put the people first, and fully implement the UN 2030 Agenda for Sustainable Development. We should step up support for developing economies. We should bridge development gaps, increase people's well-being, and deliver prosperity to all the people in the Asia Pacific," he said.

"China has been a major engine of world economic growth for many years. China's 14th Five-Year Plan period ends this year. In the past five years, the Chinese economy has registered an annual growth rate of around 5.5 percent on average, contributing around 30 percent of global growth," he stressed.

"China is the only developing country that hosts a national-level international import expo and continually opens its market to the world. The China market is huge and promising. China can provide more growth opportunities for the global business community," Xi said.

"China helps companies of different types of ownership to grow and thrive through fair competition. There are only 29 items left on China's negative list for foreign investment, and zero items in the manufacturing sector. We will also continue to open the services sector. China is universally recognized as one of the safest countries in the world. China can provide a good business environment for the global business community," he said.

"We are vigorously developing future industries, strengthening emerging industries, and upgrading traditional industries. China is going green, digital and smart at a faster pace. Innovation is steadily driving the economy forward," Xi said.

"China is making coordinated advances in decarbonizing, mitigating pollution, expanding green transition and promoting growth. It has the largest renewable energy system and the biggest, most complete new energy industrial chain in the world. China can provide enabling conditions of green growth for the global business community," he said.

"China is an ideal, safe and promising destination for global investors. Partnering with China means embracing opportunities. Believing in China means being optimistic about tomorrow. And investing in China means investing in the future," the president said.

"The Asia Pacific business communities are forerunners of our times, pioneers of change, and trendsetters of the world. I hope that you will carry forward the spirit of entrepreneurship, remain pioneering, open-minded, innovative and resilient, work together to promote Asia Pacific growth and prosperity, and forge a mighty force to usher in a great future for the Asia Pacific and the world," Xi said.