Chinese President Xi Commits to Keeping China Economy Open in APEC Keynote Speech

President Xi Jinping has committed that China’s economy will be more open, in a keynote speech at the APEC CEO Dialogues on Thursday.

President Xi Jinping has committed that China’s economy will be more open, in a keynote speech at the APEC CEO Dialogues on Thursday. 

This, after China signed the Regional Comprehensive Economic Partnership, the largest free-trade deal with members of the ASEAN, Japan, South Korea, New Zealand and Australia.

Xi said, “Openness enables a country to move forward, while seclusion holds it back,” as he commits to building a more open economy in China which will also “deepen international cooperation for shared benefits”.

“We will not reverse course or run against historical trend by “decoupling” or forming a small circle to keep others out. By fostering a new development paradigm, we are not pursuing a closed-door circulation, but open and mutually reinforcing domestic and international circulations,” Xi added.

Xi reiterates that “China will continue to advance trade and investment liberalization and facilitation, to conclude, through negotiation, high-standard free trade agreements with more countries, and to actively engage in bilateral, multilateral and regional mechanisms for trade and investment cooperation.” 

He finally urged the members to also do their part in promoting ‘openness and development’ as well as to pursue ‘innovation-driven growth’.


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