APEC Economic Leaders' Meeting concluded with major consensus

Chinese President Xi Jinping (C, front) and other participants of the 22nd APEC Economic Leaders' Meeting pose for a group photo at the Yanqi Lake International Convention Center in Beijing on Tuesday, Nov 11, 2014. The meeting kicked off in Beijing on Tuesday morning. [Photo: China News Service/Liao Pan]

Leaders from the Asia-Pacific Economic Cooperation (APEC) economies concluded their annual meeting in Beijing on Tuesday, agreeing on economic integration, innovation and connectivity. [Special coverage]

The meeting adopted two important documents, "The 22nd APEC Economic Leaders' Declaration: Beijing Agenda for an Integrated, Innovative and Interconnected Asia-Pacific" and "Statement on the 25th Anniversary of APEC: Shaping the Future through Asia-Pacific Partnership".

Chinese President Xi Jinping hosted the meeting and delivered the opening and closing remarks.

"We have had thorough and fruitful discussions on the meeting's theme and three major topics and exchanged views on the vision of Asia-Pacific development and the future direction of APEC cooperation," he said in the closing remarks.

The meeting have reached "extensive and important" consensus, he said.

The APEC members endorsed a roadmap for promoting the Free Trade Area of the Asia-Pacific (FTAAP) process and approved important initiatives on global value chains, supply chains and capacity building.

They decided to take economic reform, new economy, innovative growth, inclusive support and urbanization as five pillars.

They adopted a blueprint to promote regional connectivity by 2025 and agreed to set up a cross-border law enforcement network to strengthen transnational anti-corruption cooperation.

"This meeting has achieved rich achievements and met its expected targets. All parties are satisfied," Xi told a press conference after the meeting.

In his opening remarks, President Xi urged concrete actions to facilitate free trade, improve connectivity and pursue innovation.

The APEC members have made important consensus on the launch of the FTAAP process, promotion of connectivity as well as pursuit of innovation and development.

"We need to translate the consensus into actions and make development blueprints for the next five, ten and even 25 years," said Xi.

This year marks the 25th anniversary of the APEC, which has been a top-level and most representative cooperation mechanism that covers a wide range of areas in the Asia-Pacific.

The 21-member APEC involves a population of 2.8 billion, or 40 percent of the global total, and produces 57 percent of the global gross domestic product (GDP) and contributes 46 percent of global trade.

Leaders from other APEC economies agreed with Xi on China's initiatives and highly appraised China's efforts to promote regional and global prosperity as well as the development of the APEC framework.

On the sidelines of their formal meeting, leaders and representatives including Xi planted trees to mark friendship in the APEC family.