President Xi stresses cooperation in keynote APEC speech


Chinese President Xi Jinping addressed the CEO Summit of the ongoing APEC meetings on Sunday, and it wasn’t business as usual. CCTV America’s Han Bin reports.

Xi delivered the keynote speech in the summit on a visions for common prosperity.

“We should create an open and inclusive economic structure, and respect different paths of different economies. We should change the zero-sum thinking into seeking win-win results,” Xi said. “We should join hands to make the Asian development cake bigger and boost common prosperity.”

Xi drew a blueprint for an Asia with more economic vitality, more freedom of investment, and connecting people. China wants to put APEC back on the track of leading the regional economy. In terms of its own growth, the president promised to deepen reforms and more opening, and to expand China’s contribution to the world economy. The country has many initiatives, like APEC-FTA and connectivity through infrastructure.

“I am delighted to announce that the Asian Infrastructure Investment Bank has made crucial steps for implementation. The contracting nations have signed the memorandum of understanding,” Xi said. “China will also provide $40 billion to establish a Silk Road fund, to help infrastructure building and financial cooperation, along the Silk Road Economic Belt.”

Though the CEO Summit did not create any concrete agreements, it may help promote new APEC concepts and solutions for the region’s current economic problems.