As economic headwinds buffet global growth, Chinese President Xi Jinping's calls for unity and collaboration at the 32nd APEC Economic Leaders' Meeting resonated across the Asia-Pacific region this week. With geopolitical tensions and protectionist policies threatening supply chains, Xi outlined a roadmap emphasizing openness, innovation, and shared development to reinvigorate cooperation among the 21-member forum.
In speeches delivered during the summit, Xi proposed concrete measures to strengthen regional integration, including maintaining unimpeded industrial chains and advancing green technology partnerships. His five-point and three-point proposals highlighted China's commitment to multilateralism, with experts noting their alignment with APEC's core mission of sustainable growth.
"President Xi's vision addresses the real pain points facing businesses today," said Liu Chenyang of Nankai University's APEC Study Center. "By advocating for inclusive economic policies, China is countering fragmentation while reinforcing its stabilizing role in regional development."
The numbers underscore deepening ties: China's trade with APEC economies reached $2.73 trillion in 2024's first three quarters, accounting for 57.8% of its total foreign trade. Recent infrastructure projects like Peru's Chancay Port expansion and Southeast Asian EV manufacturing hubs demonstrate growing economic symbiosis.
Analysts point to China's accelerated participation in trade pacts like the CPTPP and Digital Economy Partnership Agreement as evidence of its commitment to institutional openness. Carlos Aquino of Peru's National University of San Marcos observed: "China's push for genuine multilateralism creates vital guardrails against protectionism during this critical transition period."
With China set to host next year's APEC meetings in Shenzhen, expectations are building for concrete progress on digital trade standards and climate-responsive economic policies. As the baton passes to Beijing, Xi's closing remarks reaffirmed that China's modernization drive will remain "closely connected with the Asia-Pacific's prosperity" – a message of reassurance for investors and policymakers navigating turbulent global markets.
