China prepared to host APEC meeting in November


China’s Foreign Minister Wang Yi said Beijing is ready to host the upcoming meeting of Asia-Pacific Economic Cooperation (APEC) leaders next month. CCTV America’s Su Yuting reports.

2014 marks the 25th anniversary of APEC. The last time China hosted APEC was in 2001, for the 9th APEC Economic Leaders Meeting.

Yi said the theme of the meeting from Nov. 5-11 will be will be “Shaping the Future through Asia-Pacific Partnership”. The three major topics will be advancing economic integration, strengthening comprehensive connectivity and infrastructure development, and promoting innovative economic development, reform, and growth, Yi added.

“This year’s APEC is standing at a new historic starting point. We hope that three goals will be achieved in the APEC meeting in Beijing. First, to shape the future through Asia-Pacific Partnership. Second, to build a open Asia-Pacific economy. And third to build the course of APEC development. I want to let you that Beijing is ready, and China is ready,” Yi said.

APEC has made significant contributions and opened a new chapter in China’s relations with the Asia Pacific. In 2013, 60 percent of China’s total foreign trade was with APEC members. In terms of utilized foreign investment, 83 percent was with APEC members and 69 percent of China’s outbound investment flowed to APEC members.

China has also introduced and proposed initiatives such as the Silk Economic Belt and 21st Century Maritime Silk Road, and the Asia Infrastructure Investment Bank. Asia Pacific economies are increasingly relying more on China for cooperative partnerships.

“The economic growth in China is the most dynamic, not only here in the Asia-Pacific Region, but all over the world. In my point of view, China is a real economic leader of the global economy,” said Russia’s Ambassador to China, Andrey Denisov.