Industry leaders in the Philippines spoke highly of China's role in Asia-Pacific Economic Cooperation (APEC), and acknowledges the country's contribution to regional economic integration during the ongoing APEC Leaders' Week held in Metro Manila, capital of the Philippines.[Special coverage]
"China has become a very important economy for APEC. The growth of China has driven the global economy for many years in a row," said Jaime Zobel de Ayala, Chairman and Chief Executive Officer, Ayala Corporation Philippines.
The 180-year-old Ayala Corporation is the country's oldest and largest conglomerate.
During an exclusive interview with Xinhua on Wednesday, Ayala said that anything that facilitates trade into China and allows capital from China to move to APEC countries will be very productive to economic systems of all of the APEC economies.
Ayala also talks about the importance for trade cooperation between the Philippines and China.
"Ninety percent of our telecommunication equipment at Globe Telecom is from Chinese company Huawei," said Ayala, who added that Huawei offers high quality products at very good price.
Ayala Corporation is the holding company of Globe Telecom, a major provider of telecommunications services in the Philippines.
"I can imagine a lot of Filipino companies are having similar interactions with Chinese company and I assume China also wants to have its products and services to enter new markets," said Ayala.
Doris Magsaysay-Ho, Chair of APEC Business Advisory Council 2015, talked about China being an inspiration for other countries.
"China is a great power. We are all inspired by how China has always been so amazing in knowing how to promote business. In every Chinese person, there is entrepreneurial spirit. That can inspire people to learn from China," said Magsaysay-Ho.
She added that APEC offers amazing opportunities for member economies to promote economic integration and further open up market.
"The whole effort of APEC is to create a region that has the same rules, same regulations, same policies, so that everyone can cooperate in a seamless way," said Magsaysay-Ho, who is also President and Chief Executive Officer of A. Magsaysay Inc., Philippines.
