HomeNewsDiplomatic NewsXi Jinping addressed the Informal Economic Leaders' Retreat to the APEC.

Xi Jinping addressed the Informal Economic Leaders’ Retreat to the APEC.

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Wellington: 17 July 2021 (TDI) – This year’s APEC retreat was hosted this year by New Zealand on Friday and focused on the Covid-19 pandemic and its economic impact.

Xi Jinping was invited to the retreat by Jacinda Arden, the Prime Minister of New Zealand. He expressed his gratitude to Arden and the government of New Zealand for making the meeting possible.

Xi Jinping talked about the challenges posed by the pandemic and the significance of the Asia-Pacific region for global economic growth. He said there is a huge need to strengthen cooperation to battle the pandemic. There is also a need for deepening regional economic integration, inclusivity, sustainable development, and seizing opportunities from scientific and technological innovation.

He stated that overcoming the challenges of its own mass vaccination program, China has provided more than 500 million doses of vaccines to other developing countries and will provide another $3billion in international aid over the next three years to support the covid-19 response and economic and social recovery in other developing countries.

Talking about the contribution to APEC, he said, China has financed the founding of a sub-fund on the APEC on combating covid-19 and economic recovery; which will help the APEC states win an early victory over covid-19 and achieve economic recovery.

He iterated that right now, there is a high need to remove the barriers and open up, not erect the walls and close them off. The states must seek integration not decoupling as this is the way to make economic globalization more open, inclusive, balanced, and beneficial for all

He highlighted that the global digital economy is an open and close-knit entity. Win-win cooperation is the only right way forward while a closed-door policy, exclusion, confrontation, and division would only lead to a dead end. There is a need to work for a digital business environment that is open, fair, and non-discriminatory.

He concluded his speech by saying that China will build a system of open economy of higher standards, create a more attractive business environment, and advance high-quality B&R cooperation. China hopes to work with countries in Asia-Pacific and beyond to achieve higher-standard mutual benefits.

He quoted a Maori saying in New Zealand that goes “turn your face to the sun and shadows will fall behind you” and expressed confidence in humanity’s victory over the pandemic through cooperation, the prospects of world economic recovery, and a shared, bright future for humanity.

 

 

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