1st LD: Xi urges closer Asia-Pacific cooperation for common prosperity

Chinese President Xi Jinping on Thursday called on Asia-Pacific economies to boost win-win cooperation in pursuit of common prosperity.

Xi made the remarks here at the 23rd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, which was themed "Building Inclusive Economies, Building a Better World."

Although its economy is faced with various challenges, "the Asia-Pacific region is still the locomotive driving the world economy," Xi said, urging all APEC members to make use of the regional platform and step up win-win cooperation so as to continue leading global growth.

During last year's APEC summit in Beijing, the 21 members inked a blueprint on enhancing physical, institutional and people-to-people connections by 2025, and also officially launched the Free Trade Area of the Asia-Pacific (FTAAP) process.

"As we gather again one year after that, our goal is still to deepen Asia-Pacific cooperation and promote common development of the region," Xi said.

Stressing that Asia-Pacific economies should look ahead to the future and improve the framework for regional medium- and long-term cooperation, Xi pointed out that reform and innovation are needed to find new growth impetus.

He called for joint efforts to push forward transition of growth model and economic restructuring and deepen cooperation in areas that have great potential, such as urbanization, Internet economy and blue economy.

Meanwhile, "we need to advance regional integration and build an open Asia-Pacific economy," said Xi, while urging APEC members to complete the construction of the FTAAP at an early date.

In the process of formulating regional free trade agreements, Xi suggested, all related members should stay open and inclusive, seek cooperation of mutual benefit and safeguard the multilateral trade regime.

As to regional connectivity, the Chinese president called on Asia-Pacific economies to continue to earnestly carry out the connectivity blueprint forged in Beijing so as to break the bottleneck in regional development.

Calling the Asian Infrastructure Investment Bank (AIIB) an important platform supporting regional connectivity, Xi said China and other related countries are accelerating the preparations and the bank is expected to be formally established by the end of this year.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road, together known as the Belt and Road Initiative, are also making steady progress, and the Silk Road Fund project is already in operation, Xi noted.

In addition, China stands ready to make continuous efforts in strengthening APEC's capacity building, said the Chinese president.

Referring to the proposal on China's 13th Five-Year Plan (2016-2020) adopted at the Fifth Plenary Session of the 18th Communist Party of China (CPC) Central Committee, Xi reaffirmed China's commitment to innovative, coordinated, green, open and shared development.

"China has the resolve, confidence and ability to realize sustained and healthy economic development and bring more opportunities and benefits to the Asia-Pacific region," Xi said.

Chinese Foreign Minister Wang Yi said that the important ideas Xi put forward at the meeting have charted the course for Asia-Pacific economic growth and were echoed in the 2015 APEC Economic Leaders' Declaration.

In the declaration, the APEC members reaffirmed their commitment to jointly building an open economy in the Asia-Pacific region based on innovative development, interconnected growth, and shared interests.

"In spite of the challenges we face, the future of our region will be bright as we stand true to our pledge to shape the future through Asia-Pacific partnership, with a view to fulfilling our goals of common development, prosperity, and progress," the statement said.

It also highlighted the role of the FTAAP as the main force to promote regional integration, and welcomed the progress in implementing the APEC Connectivity Blueprint for 2015-2025.

Emphasizing that APEC should take the lead in inclusive development in the Asia-Pacific region, Xi urged all the members to stick to fair, open, comprehensive and innovative development and focus on helping developing member economies carry out personnel training and increase input in public welfare sectors.

Xi also called for concerted action in dealing with poverty, stressing that trade and investment liberalization and facilitation, as well as connectivity building, should benefit those living in poverty.

The Chinese president also suggested that efforts be made to improve both the quality and the benefits of development and advance green and low-carbon development.

China, Xi said, is willing to work with other countries to reach an ambitious agreement at the upcoming Paris climate conference under the principles of common but differentiated responsibilities, fairness and respective capabilities.

The Chinese president arrived in Manila on Tuesday to attend the APEC meeting.

The Asia-Pacific is vital to global peace and development. It accounts for 40 percent of world population, 48 percent of world trade and 57 percent of global output. Endi