Chinese President Xi Jinping on Friday outlined a five-point plan to strengthen the Asia-Pacific economy during the first session of the 32nd APEC Economic Leaders’ Meeting in Gyeongju, South Korea. The proposal emphasized inclusive growth, open trade, and regional integration amid global uncertainties.
Xi highlighted that APEC has driven the Asia-Pacific to the forefront of the global economy over the past three decades. He warned that rapid global changes and destabilizing factors threaten regional development. Therefore, Xi stressed the need for APEC members to work together and stay committed to the organization’s founding mission.
The first point called for protecting the multilateral trading system. Xi urged countries to practice true multilateralism, strengthen the World Trade Organization, and update trade rules to safeguard the rights of developing nations.
Secondly, Xi focused on building an open economic environment. He encouraged trade and investment liberalization, deepening fiscal and financial cooperation, and promoting regional economic integration. Xi also highlighted the Free Trade Area of the Asia-Pacific as a framework for collaboration.
Thirdly, Xi urged members to stabilize industrial and supply chains. He called for collaboration over division, stronger connectivity, and support for open supply chain development. Xi emphasized tangible results in infrastructure, institutional frameworks, and people-to-people links.
Fourthly, Xi highlighted the digital and green transformation of trade. He promoted digital technologies as tools for cross-border commerce and encouraged cooperation in green industries, clean energy, and sustainable resources.
Fifthly, Xi called for universally beneficial and inclusive development. He emphasized a people-centered approach, addressing development imbalances, and fostering economic globalization that benefits all nations. Xi also reaffirmed China’s commitment to the Belt and Road Initiative and a high-standard open economy.
Xi concluded by noting China’s plans to deepen reforms under its 15th Five-Year Plan. He stressed that these efforts aim to create new opportunities for the Asia-Pacific economy and the wider world.
Analysts noted that Xi’s five-point proposal signals China’s intent to lead regional economic cooperation, address global trade uncertainties, and strengthen multilateral frameworks. Experts also suggest that the plan could influence APEC’s policy priorities and enhance regional connectivity.
