APEC shores up hope

The formal dress worn by the leaders that attended the Asia-Pacific Economic Cooperation forum has been widely perceived as a show of solidarity in the face of the current global economic and financial difficulties.

The message from the APEC economic leaders' meeting, which was concluded in Vladivostok on Sunday, is equally encouraging.

In a declaration issued at the end of the two-day meeting, Pacific Rim leaders vowed to strengthen the region's prosperity and leadership in the global economy. They said they would push for trade and investment liberalization, establish reliable supply chains and foster innovation. These plans will have far-reaching effects on the development of the region and places beyond.

Over the past two decades, the APEC has striven to be an important force driving the wheel of global economic governance and regional cooperation. The Vladivostok meeting marked a new beginning for the group, allowing it to take stock of its achievements and experiences, boost confidence, strive for progress and reach new heights in regional economic cooperation.

President Hu Jintao delivered and elaborated on China's proposals related to important topics discussed at the meeting.

To bolster APEC's rise in importance, Hu announced on Saturday that China will play host to an APEC economic leaders' meeting and related meetings in 2014. And to further regional economic integration, Hu called on APEC member economies to push forward trade and investment liberalization and encouraged APEC members to invest more in infrastructure and networks in the region.

As many large Western economies struggle with slow growth, Hu's pledge that China will "deepen cooperation with other APEC members and make fresh and even greater contributions to development, prosperity and people's well-being in the Asia-Pacific region and beyond" is a blessing to all.

China believes that the Asia-Pacific will have an even brighter future if the economies in the region build on the current momentum in regional economic and social progress.

To this end, economies in the Pacific Rim should properly handle their differences and pave the way for a stable, peaceful region, which is indispensable to development and integration.