Xi urges developing connectivity in Asia Pacific

Chinese President Xi Jinpingon Tuesday called for building a framework of connectivity across the Asia Pacific region.

Xi proposed the idea on the second day of the 21st informal economic leaders' meeting of the Asia-Pacific Economic Cooperation (APEC) held in Bali on the Indonesian resort island of Bali.

He called on the APEC forum to promote connectivity in the region, detailing his point in four aspects.

Firstly, APEC economies should establish a connectivity network covering the whole Asia Pacific, so as to help bolster the construction of economic corridors in various subregions and foster a vast Asia-Pacific market covering 21 economies and 2.8 billion people, Xi said.

Efforts should be made to secure the free flow of production elements in the region and steadily enhance the coordinated development among Asia-Pacific members in order to achieve regional integration, Xi said.

Secondly, APEC economies should dismantle the bottlenecks barring connectivity, and establish investment and financing partnerships with extensive participation from governments, private sectors, and international institutions, Xi said.

China stands ready to explore and expand investment and financing channels for infrastructure construction and proposes the establishment of an Asia infrastructure investment bank.

Thirdly, APEC members should promote connectivity and infrastructure construction within the frameworks of regional and international cooperation, Xi said.

All members should enhance communication and actively participate in cooperation in the spirit of mutual benefit, complementary advantages, and adhering to the principle of open, transparent, and win-win cooperation.

Fourthly, APEC members should take advantage of connectivity to help people in the Asia-Pacific region establish closer links in economy and trade, finance, education, science and culture, and deepen mutual understanding and trust.

China will host the 22nd APEC informal economic leaders' meeting in Beijing next autumn, Xi said.

China hopes to take that opportunity to work closely with all relevant parties to push APEC economies to build closer partnership in the spirit of openness, inclusiveness and mutual benefit and to make the APEC play a greater leadership role in mapping out the long-term development goals of the Asia-Pacific region, Xi said.

Leaders who attended Tuesday's meeting gave unanimous support for China's bid to hold the APEC meeting next year, believing the event will be a full success.

They issued a joint declaration on "resilient Asia-Pacific, engine of global growth" and a statement of "supporting the multilateral trading system and the 9th ministerial conference of the World Trade Organization."

The two documents pledged to enhance policy coordination, strengthen the multilateral trading system, promote regional integration, deepen cooperation in areas such as connectivity, and jointly safeguard and develop an open world economy.