Xi says the overall Chinese economy remains promising

On Thursday Nov 17th, San Francisco local time, Chinese President Xi Jinping delivered a written speech at the Asia-Pacific Economic Cooperation (APEC) CEO Summit. Pointing out that the world has entered a new period of turbulence and change, Xi said the absence of cooperation is the biggest risk, and that decoupling and supply-chain disruption is not in anyone's interest.

Xi said openness, inclusiveness and development for all outshine others on the remarkable journey of Asia-Pacific cooperation.

Since China's reform and opening-up 45 years ago, APEC has become the first economic and trade organization that it joined. At the new starting point, Xi said China remains committed to pursuing development with its doors open and will unswervingly advance high-standard opening up and further expand market access, adding that China has announced the removal of all restrictive measures on foreign investment in manufacturing.

Facts speak louder than words. According to China's Ministry of Commerce, in recent years, China has continuously deepened economic and trade cooperation with other 20 APEC economies, and continued to contribute China's strength to the construction of the Asia-Pacific economy. The data also showed in the same year that eight of China's top 10 trading partners are APEC members and China is the largest trading partner of 13 APEC economies.

Xi noted that the overall Chinese economy remains promising, and it will remain so in the long run. China has the confidence in, and even more capability of achieving long-term and stable growth, and through its development China will continue to provide the world with new growth momentum and opportunities, he said.

Xi also said no matter how the international situation evolves, China's resolution to foster a market-oriented, law-based and world-class business environment will not change, adding that its policy for providing equal and quality services to foreign investors will not change. Xi voiced hope to see an active part of the global business community in the Chinese modernization drive to benefit from the huge opportunities brought by China's high-quality development.