{"id":13662,"date":"2022-11-18T17:05:00","date_gmt":"2022-11-18T17:05:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3941975_AE41975_0"},"modified":"2022-11-18T17:05:00","modified_gmt":"2022-11-18T17:05:00","slug":"cgtn-china-highlights-role-of-asia-pacific-community-in-addressing-global-challenges","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=13662","title":{"rendered":"CGTN: China highlights role of Asia-Pacific community in addressing global challenges"},"content":{"rendered":"
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BEIJING<\/span>, Nov. 19, 2022<\/span> \/PRNewswire\/ — With the theme of “Open, Connect, Balance,” the 29th APEC Economic Leaders’ Meeting kicked off on Friday, in Bangkok<\/span>, which is the first such in-person meeting since 2018.<\/p>\n

The voice of China<\/span> is in the limelight as the country’s membership of APEC has not only boosted its own development but also greatly contributed to the regional and world economies. <\/p>\n

Highlighting that the Asia-Pacific<\/span> is “our home as well as the powerhouse of global economic growth,” Chinese President Xi Jinping stressed building an Asia-Pacific<\/span> community with a shared future when delivering a speech during Friday’s meeting.<\/p>\n

Asia-Pacific<\/span> community with a shared future<\/b><\/p>\n

“Today the world has come to another historical crossroads, and this has made the Asia-Pacific<\/span> region even more important and prominent in its standing and role,” Xi said.<\/p>\n

Calling for joint efforts in building an Asia-Pacific<\/span> community with a shared future, he stressed several aspects \u2014 peace and stability, prosperity for all, cleanliness and beauty, and a shared future.<\/p>\n

He also underlined upholding international fairness and justice, adhering to openness and inclusiveness, seeking green and low-carbon development, and being committed to cooperation so as to reach the goal.<\/p>\n

The region’s status is of great significance in the world. With a combined population of 2.9 billion, the 21 APEC economies account for over 60 percent of the world’s total gross domestic product (GDP) and about half of world trade.<\/p>\n

APEC is working on areas such as trade and investment liberalization, business facilitation, and economic and technical cooperation, aiming to achieve sustainable growth and prosperity in the Asia-Pacific<\/span> region.<\/p>\n

In the latest Regional Economic Outlook Report for Asia<\/span> and Pacific, the International Monetary Fund (IMF) lowered its growth forecasts for the Asia-Pacific<\/span> region to 4 percent this year and 4.3 percent next year, by 0.9 and 0.8 percentage points, respectively, from its April forecasts.<\/p>\n

Despite the growth cut, Asia<\/span> remains a relatively bright spot in an increasingly dimming global economy, said Krishna Srinivasan<\/span>, director of the IMF’s Asia<\/span> and Pacific Department.<\/p>\n

China<\/span> committed to regional partnerships<\/b><\/p>\n

Since joining APEC 31 years ago, China<\/span> has been firmly committed to regional partnerships and free trade and investment, making significant contributions to a multilateral trading system and an open world economy.<\/p>\n

“China<\/span> will work with other parties on the full and high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP),” Xi told the APEC meeting.<\/p>\n

The country will continue working toward joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA), he added.<\/p>\n

The RCEP, the world’s largest free trade deal, covers 10 member states of the Association of Southeast Asian Nations and its five free-trade agreement partners: China<\/span>, Japan<\/span>, the Republic of Korea, Australia<\/span> and New Zealand<\/span>. China<\/span> was among the first to ratify the RCEP agreement last year.<\/p>\n

Both the RCEP and CPTPP are believed to be viable pathways toward the wider Free Trade Area of the Asia-Pacific<\/span> (FTAAP), which the 21 APEC members aim to establish.<\/p>\n

China<\/span> will consider holding the third Belt and Road Forum for International Cooperation next year to provide fresh impetus for the development and prosperity of the Asia-Pacific<\/span> and the world, according to the Chinese president.<\/p>\n

Echoing the theme of the 2022 APEC, Beijing<\/span> has promised a high-standard opening up with the fifth China International Import Expo in Shanghai<\/span> yielding great results earlier this month.<\/p>\n

Tentative deals with a total worth of $73.5 billion<\/span> were reached during the import-themed event, a testament to China’s<\/span> gigantic market and numerous business opportunities.<\/p>\n

As the 20th National Congress of the Communist Party of China<\/span> last month set the blueprint for the country’s development for now and beyond, the president also stressed that Beijing<\/span> will advance a broader agenda of opening up across more areas and in greater depth.<\/p>\n

He underlined that following the Chinese path to modernization, the country will build new systems for “a higher-standard open economy,” and share development opportunities with the world, particularly with the Asia-Pacific<\/span> region.<\/p>\n

https:\/\/news.cgtn.com\/news\/2022-11-18\/China-stresses-Asia-Pacific-community-in-addressing-global-challenges-1f3LalyTRGU\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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