REGIONAL CONNECTIVITY
The APEC Connectivity Blueprint 2015-2025, a significant action plan for the Asia-Pacific's long-term development, was adopted at the Beijing APEC meeting in 2014.
At last year's APEC summit in Manila, the Philippines, Xi announced that China has established and put into operation the Silk Road Fund, and proposed to launch the Asian Infrastructure Investment Bank (AIIB) with an authorized capital of 100 billion U.S. dollars, an important platform supporting regional connectivity.
In June 2016, the bank approved its first four loans, totaling 509 million dollars, to fund power, housing and transportation projects in Bangladesh, Indonesia, Pakistan and Tajikistan.
Even before the establishment of the AIIB, China had already sought increased cooperation with related countries to promote connectivity in the region. The launch of China-Thailand and China-Laos railway projects marked a milestone in stepping up connectivity in the Asia-Pacific region.
China has recently proposed the evaluation mechanism on the implementation of the APEC Connectivity Blueprint, which has been approved by the APEC senior officials' meeting, said Zhang Jun, director-general of the International Economic Affairs Department of the Foreign Ministry.
"On the basis of that, we'll continue to push forward regional connectivity in areas such as e-commerce, harbor networks, environmentally conscious supply chains, and cross-border education," he said.
"We are also trying to dovetail regional connectivity with China's Belt and Road Initiative," he added.
According to Liu, this year's APEC meeting is expected to push forward the implementation of the blueprint and ensure progress is delivered in a prompt manner. With improvements in the implementation mechanism and more sources of funding, more achievements are expected in enhancing connectivity.
INNOVATIVE DEVELOPMENT & STRUCTURAL REFORM
Economic reform and innovation-driven growth are highlighted on various occasions, including the APEC and G20 meetings. These concepts are emphasized against the backdrop of the global economy still struggling to recover from the financial crisis.
Despite the consensus, it is a challenge to boost technical innovation and find new sources of economic growth. China has placed special emphasis on transforming economic development modes and innovation-driven growth in its blueprint for economic and social development in the 2016-2020 period. So have other countries in the Asia-Pacific region, which has long served as an engine of the world economy.
Therefore, China's appeal for innovation-driven growth and structural reform is in line with its own conditions and the region's demands. Its appeal has won recognition from other APEC economies.
For years the Chinese government has been releasing supportive policies and measures for innovative entrepreneurship and supply-side reform, resulting in a steady gross domestic product (GDP) growth rate of 6.7 percent, a retreat of excess capacity, and booming high-tech, service and other new industries.
"With economic restructuring, the initiative of innovation-driven growth and development of free trade zones, China boasts an increasingly opened-up and transparent market with greater market potential and improved market environment," said Liu.
"It is expected that the Lima APEC summit will coordinate and lead the drive of innovation and reform, and produce real results," he added.
For Ignacio Cortes, coordinator of the Laboratory for Trade, Economics and Business Analysis at the National Autonomous University of Mexico, the Lima APEC summit will be instrumental in invigorating the world economy, and China will play a prominent role.
