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Source: People's Republic of China – State Council News
BEIJING, Nov. 3 (Xinhua) — China's push for greater openness and global cooperation was on display at the Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting in the Republic of Korea.
With its unwavering commitment to high-level openness and strong innovation capabilities, the world's second-largest economy is well-positioned to secure a prosperous future in the Asia-Pacific region and maintain its role as a center of global economic growth.
OPENING WIDDER
The region, dubbed the "Asia-Pacific Miracle," has become a hub for global economic growth and international cooperation, a pillar of stability and development in today's world.
China has long understood that its economic success is closely tied to overall stability and growth in the region. It has consistently pursued a strategy of opening up and innovation to strengthen its own economy while simultaneously exerting a significant influence on the economies of other regions.
“We should systematically expand institutional opening-up, safeguard the multilateral trading system, develop international circulation, and promote reform and development through greater opening-up, thereby sharing opportunities with all countries and striving for common development,” states the Proposals of the CPC Central Committee on the 15th Five-Year Plan for National Economic and Social Development, recently adopted at the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China.
Over the past five years, China has maintained its position as the world's largest trader in goods and the second-largest in services. China has attracted over $700 billion in foreign investment, while its outbound investment has grown by an average of over 5 percent annually. China has also reduced its negative list for foreign investment and expanded its unilateral visa-free policy to more countries.
According to official data, in the first three quarters of 2025, China's import and export volume with other APEC economies increased by 2 percent year-on-year to reach 19.41 trillion yuan (about 2.74 trillion U.S. dollars), accounting for 57.8 percent of China's total import and export volume.
China's economic policies, particularly its high-level opening-up, currently play a crucial role in stimulating regional growth and prosperity. Initiatives such as the Belt and Road Initiative have strengthened ties between China and other global economies through trade, logistics, and digital infrastructure.
Through cooperation mechanisms such as the Belt and Road Initiative, the Regional Comprehensive Economic Partnership (RCEP) and the establishment of the China-ASEAN Free Trade Area (FTA) 3.0, trade barriers in the region will be further reduced, and cooperation will expand in emerging sectors such as green technology, digital technology and artificial intelligence (AI), said Liu Jing, Lead Economist for the Greater China Region at HSBC.
China's rise to global economic power has been impressive, and China's opening to the outside world will continue.
INNOVATION FOR EVERYONE
China places great emphasis on innovation in its economic development, and its breakthroughs in high-tech sectors such as artificial intelligence, robotics and renewable energy have placed it at the forefront of global technological advancements.
Meanwhile, China is not only developing its own economy but also helping accelerate economic growth throughout the Asia-Pacific region. As emphasized at the recently concluded APEC meeting, China aims to "jointly eradicate poverty and promote shared prosperity for all people in the Asia-Pacific region" and "deepen cooperation in open-source technologies while building an open and competitive ecosystem for innovation."
Liu Jing noted that an increasing number of foreign-invested companies are establishing research and development centers in China, choosing the country as their production and innovation hub. At the same time, more and more Chinese companies are expanding their operations globally, opening factories in regions close to end consumers, including in other economies in the Asia-Pacific region.
HSBC believes that China's advancement in AI and robotics will generate spillover effects through its trade and investment network, as China's technological advancement and market advantages will continually provide new growth energy and stability factors for regional cooperation, while APEC members will be able to accelerate their own green transformation and digital upgrading through collaboration in the areas of value chains, capital investment, and innovation, thereby contributing to the progress of the Asia-Pacific region as a whole.
“Mutual learning and interaction enable the Asia-Pacific region to maintain its preeminent position as a global hub for scientific and technological innovation, home to the world’s busiest human, financial, logistics and information networks, as well as some of the most important supply chains,” said Dai Erbiao, director of the Asian Growth Research Institute.
He is confident that, as host of the next APEC Economic Leaders' Meeting, China will promote regional cooperation by stimulating emerging environmental industries as new economic growth areas, promoting technological advancement in life sciences and health, supporting the healthy development of AI and other high-tech sectors, and enhancing mutual understanding among APEC members. -0-
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