China urges APEC members to deepen Asia-Pacific community building
Wang Yi and Wang Wentao co-chaired an APEC virtual ministerial meeting, calling for multilateral trade, digital transformation, and open regionalism ahead of the APEC leaders' summit.
Asia-Pacific Economic Cooperation (APEC) held a virtual joint ministerial meeting on 3 November, co-chaired by Chinese Foreign Minister Wang Yi and Commerce Minister Wang Wentao.
Wang Yi said China is willing to work with all members to deepen and substantiate the building of an Asia-Pacific community. He stressed the need for mutual respect, enhanced solidarity and cooperation, and upholding the multilateral trading system centred on the World Trade Organization. He also called for regional trade arrangements to play a leading role in building an open Asia-Pacific economy, accelerating the region's digital transformation, cultivating new growth points for cooperation, promoting inclusive and green development, and safeguarding energy and food security.
Wang Yi described the upcoming APEC Economic Leaders' Meeting as a crucial event for the region's future. He said China is ready to work with all parties to ensure a successful conclusion of the APEC 'China Year' and contribute to substantial outcomes at the leaders' meeting.
Wang Wentao noted that the current international situation is fraught with instability, supply chains face rising fragmentation risks, and global economic growth remains weak. He said APEC members should continue to offer practical and effective 'Asia-Pacific solutions' for regional and global development. These include upholding free trade, creating an open and win-win development model, fostering innovation-driven growth, and building a fair and rational international economic and trade order through solidarity.
Wang Wentao added that China is firmly committed to high-standard opening up, continuously expanding autonomous liberalisation, fully implementing national treatment for foreign companies, and building a unified, open, and competitive market system. He said China insists on open innovation, encourages open-source and collaborative sharing of new technologies such as artificial intelligence, and takes concrete actions to promote regional economic integration and an open world economy.