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Offer Chinese Solutions, Spread Chinese Confidence-Foreign Minister Wang Yi Talks about President Xi Jinping's Attendance at 10th G20 Summit and 23rd APEC Economic Leaders' Meeting
2015/11/19

From November 14 to 19, 2015, President Xi Jinping attended upon invitation the 10th G20 Summit in Antalya, Turkey and the 23rd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Manila, the Philippines. At the end of the journey, Foreign Minister Wang Yi briefed journalists on relevant information.

Wang Yi said that President Xi Jinping's attendance at these two summits represents a major multilateral diplomatic action of China in the context where the global political and economic situations are faced with new challenges, new adjustments and new developments. It aims to pool consensus, lift confidence and jointly advance progress.

The 5th plenary session of the 18th Communist Party of China (CPC) Central Committee deliberated and approved suggestions of the "13th Five-Year Plan", marking the start of China's sprint towards a comprehensive well-off society. The development notions of innovation, coordination, green development, openness and sharing put forward by China not only lead the trend of development worldwide but also coincide with the themes of the two summits. As the former APEC Summit host as well as the designate presidency of the G20, China plays an increasingly important and positive role in the primary global platform for economic and financial cooperation and the highest-level cooperation forum in the Asia-Pacific region. The views, proposals and solutions from China are under the spotlights.

Wang Yi said that the journey has a tight schedule with intensive activities, rich contents and fruitful results. President Xi Jinping attended dozens of activities of the two summits, delivered important speeches numerous times, attended the Informal BRICS Leaders Meeting, met with a dozen heads of state and government and extensively contacted with people from economic and financial circles. President Xi Jinping systematically expounded China's opinions and proposals on current major global issues in politics and economy, charted the course and identified path of cooperation in the Asia-Pacific region and introduced the latest situations and notions of China's development, which has increased understanding, broadened consensus and won supports.

I. Diagnose and Prescribe for World Economy and Offer China's Solutions

Wang Yi said that in the face of complex situation featuring sluggish world economic recovery since the outbreak of the international financial crisis, President Xi Jinping vividly pointed out that the root cause of world economy's symptoms such as "cold and fever" lies in its malfunctioned physical mechanism. To cure the world economy it requires comprehensive treatment that will by no means be finished within one single day. Centering on two fundamental questions "how to see it?" and "how to address it?", President Xi Jinping pinpointed the focus of the malaise weakening the global economy: the momentum generated by the last round of scientific and industrial revolution is waning, the potential of the traditional economic system and development model is diminishing, the problem of uneven development remains far from being solved, and the deficiencies of the existing economic governance mechanism and structure are coming to the surface. According to the symptoms, President Xi Jinping offered his "effective prescription". On one hand we should take temporary solutions to maintain steady development; on the other, we need to effect permanent cure so as to energize the long-term development. We should not only implement agreements we have reached, but also strive for new consensus. We should continue to carry forward the spirit of mutual assistance and win-win cooperation while attending to our own matters. Xi Jinping's important proposals such as enhancing communication and coordination in macro-economic policies, promoting reform and innovation to foster new impetus, building an open world economy and well implementing the 2030 Agenda for Sustainable Development were highly valued and positively responded by leaders attending the summit. The G20 Antalya Summit Communiqué passed during the summit calls for stronger economic recovery and greater potential for development, cooperative implementation of sound macro-economic policies, and ensuring inclusive growth, fully absorbing and reflecting China's perspectives and stances.

Wang Yi said that China shoulders the responsibility of G20 presidency at the crucial time when the G20 is transforming from a mere crisis-response mechanism to a long-term governance mechanism. President Xi Jinping announced that China will hold the 11th G20 Summit in Hangzhou, Zhejiang Province from September 4 to 5 next year. President Xi Jinping pointed out that even though the world economy has basically been out of the crisis, it faces highly vulnerable recovery and underpowered growth. The reform of global economic governance doesn't progress well while international rules on economy and trade are changing more rapidly. The necessity and difficulty of coordinating macro-economic policies among the G20 members are highlighted synchronously. Given all the above-mentioned factors, China formulated the theme of the Hangzhou Summit as "Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy", striving to transform global growth patterns in innovative ways, improve economic and financial governance, promote global trade and investment as well as realize inclusive and interconnected development.

All parties held high expectations for China in hosting the 2016 G20 Summit and hoped that China will reunite all G20 members to not only perform well with the relay baton in the cooperative process but also make new contributions to fundamentally resuscitating world economy, solving deep-level problems and ensuring successful transformation of the G20.

Wang Yi said that President Xi Jinping also attended the Informal BRICS Leaders Meeting in Antalya. Affected by the overall world economic malaise, the development of the BRICS countries is also facing numerous challenges. Some people even doubt the BRICS mechanism and hype "fading of the BRICS". President Xi Jinping stressed that real gold does not fear the test of fire. True partnership is not just about celebrating success together. It is more about standing together in time of adversity. As long as we remain firm in our determination and enhance coordination, the BRICS cooperation will certainly rise above challenges and overcome difficulties. President Xi Jinping put forward the following proposals on the next-stage development of the BRICS mechanism: cultivate a favorable external environment for development and jointly improve global economic governance; make our voice heard on major international and regional issues and jointly tackle global challenges; push forward international cooperation on development featuring mutual benefit and win-win result and jointly advocate a new model of international development partnership; and work hand in hand to advance economic upgrading and jointly realize long-term development. The BRICS leaders highly appreciated these and agreed to strengthen strategic partnership among BRICS countries on principles like openness, solidarity, equality, mutual understanding, inclusiveness, cooperation and win-win results, and continue to play the role of the BRICS countries in constructing an inclusive, orderly and open world economy.

II. Chart Course for Asia-Pacific Cooperation and Highlight China's Role

Wang Yi said that seeking peace, development, cooperation and win-win results is always a common wish of the Asia-Pacific countries. One year ago, the APEC Economic Leaders' Meeting by Yanqi Lake, Beijing was fruitful. One year later, the APEC leaders gathered in Manila to discuss again the great cooperation planning. President Xi Jinping pointed out at the APEC meeting that the Asia-Pacific region remains the locomotive stimulating the world economic growth. Faced with turbulent rivers and treacherous shoals, the course of the giant Asia-Pacific ship must be precisely charted and the helm be well checked. The economies should bravely take responsibilities and sail on the same track. President Xi Jinping stressed that we should persistently center on development, endeavor to build a peaceful environment conducive to development, and never let anything impede the Asia-Pacific development process.

Facing different new challenges, the APEC particularly calls for a development vision advancing with the times and an innovative thought of forging ahead. President Xi Jinping suggested that the APEC economies should take a long-term perspective, better the strategic framework of medium and long-term Asia-Pacific cooperation, formulate a big plan, and shape a grand pattern to usher in a new future and keep strategic, forward-looking and enterprising cooperation. The economies should push forward reform and innovation, and endeavor to innovate development notion, pattern and path, so as to seek new growth impetus for the Asia-Pacific economy. The economies should stick to building an open economy, adhere to great opening, integration and development, boost the Asia-Pacific integration, promote policy communication, facilities connectivity, unimpeded trade, financial integration and people-to-people bonds, and finish the construction of the Free Trade Area of the Asia-Pacific (FTAAP) at an early date, so as to further smoothen the Asia-Pacific economic vein. The economies should uphold the implementation of the development agenda, raise the development quality and efficiency, and lead the Asia-Pacific development path of universal benefits and inclusiveness. President Xi Jinping especially underlined that only by combining the strengths of reform and innovation can the valve of the Asia-Pacific economy be unscrewed to enliven the water in the river of economy and let it flow forward continuously.

Wang Yi said that the series of important viewpoints presented by President Xi Jinping in this meeting has charted the course of economic growth in the Asia-Pacific region. The declaration issued in the meeting positively echoes President Xi Jinping's propositions. It emphasizes that all parties should build an open Asia-Pacific economy featuring innovative development, interconnected growth and shared interests, and achieve strong, balanced, sustainable, inclusive and innovation-driven growth. It reiterates that the parties should, in the spirit of mutual trust, inclusiveness, cooperation and win-win results, co-build an Asia-Pacific partnership facing the future, and strive for the goal of common development, prosperity and progress. It stresses that the FTAAP is a major way for the APEC to boost regional integration. It comments positively on the implementation progress of the connectivity blueprint, and welcomes China to host the APEC Urbanization Forum next year.

Wang Yi expressed that China has always been a participant, driver and leader in the Asia-Pacific cooperation. We have launched the FTAAP process, and are energetically conducting strategic research on this so as to provide intellectual support for the process. We have formulated the connectivity blueprint, and are practicing it to offer assistance for other Asia-Pacific countries to construct the most-needed infrastructure. We propose to build the Asian Infrastructure Investment Bank (AIIB), which will be officially established by the end of this year and play a key role in removing the financing bottlenecks. The Silk Road Economic Belt and the 21st-Century Maritime Silk Road put forward by us are progressing steadily, tallying with development strategies of many other Asia-Pacific countries. The Silk Road Fund set up by us has started operation of projects and is expected to reap early harvest. We are stepping up the construction of high-standard FTAs, as evidenced by the basically finished negotiations on upgrading the China-ASEAN (Association of Southeast Asian Nations) FTA and the China-Australia and China-ROK FTAs which are expected to take effect within the year. The Chinese side will uphold the philosophy of mutually beneficial cooperation proposed by President Xi Jinping and continue to make contributions to enhancing the Asia-Pacific cooperation and improving the APEC's capacity-building.

III. Provide Global Economy with Impetus and Spread China's Confidence

Wang Yi said that China's economy is exerting a growing influence on the world economy, and all parties are paying high attention to China's economic policy trend. At the two summits, President Xi Jinping, with an open and candid attitude, made an incisive elaboration on the current situation and future development course of China's economy. Citing facts and numbers, he fully demonstrated China's strong confidence. President Xi Jinping pointed out that China's economy is estimated to grow by about 7 percent this year, an increase on the high base of 10 trillion USD with a contribution rate of over 30 percent to the growth of world economy. China remains the driving force of the world economy. President Xi Jinping stressed that China's positive economic fundamentals and long-term trajectory remain unchanged. What also remain unchanged are the basic fact that China's economy possesses strong resilience, great potential and ample room for maneuver; the strong support and conditions favorable for continued growth; and the forward movement of the country's economic restructuring and upgrading. China has the confidence and capability to maintain a medium-to-high rate of economic growth. Such confidence comes from the determination and actions to comprehensively deepen reform and build a new system of open economy, as well as from the robust endogenous dynamics of China's economy and the strong policy guidance of the Chinese government.

Wang Yi said that during the two summits, President Xi Jinping focused on elaborating the philosophy of "innovative, coordinated, green, open and shared" development proposed at the fifth plenary session of the 18th CPC Central Committee, stressing that during the period of the "13th Five-Year Plan", we will foster new development impetus, forge new development advantages and create new development opportunities. China will attach greater importance to efficiency and quality, and promote the in-depth integration of IT application and industrialization, the sound interaction of industrialization and urbanization, and mutual promotion of urbanization and agricultural modernization; attach value to the driving force of innovation and give play to the multiplier effect of innovation in stimulating economic growth; pay attention to justice and equity and build a new inclusive development mechanism of co-construction and sharing; lay emphasis on green and law-carbon development and build a beautiful China with blue sky, green lands and clean waters; focus on opening up and implement a more positive and active opening-up strategy. China stands ready to commit itself to continuously creating development opportunities for countries in the neighborhood, in the Asia-Pacific region and other parts of the world through its own development, and work with the surrounding countries and the Asia-Pacific region to forge a community of common interests and shared destiny.

The speeches of President Xi Jinping at the two summits have enhanced the international community's understanding of and confidence in China, and enabled the outside world to know more objectively and correctly about China's current economic situation and development prospects. All parties widely believe that China has a firm determination and takes strong measures to persist in reform and opening-up. China's economy, through adjustment, will enjoy better quality in growth and brighter development prospects, which is a new and larger opportunity for the world. President Barack Obama of the US, Prime Minister Justin Trudeau of Canada, Prime Minister Malcolm Turnbull of Australia, Prime Minister Mariano Rajoy of Spain, Chief of the International Monetary Fund ( IMF ) Christine Lagarde and other foreign political heaveyweights expressed in succession that China's advancement of economic restructuring, reform and innovation bears great significance to the development of the world economy, and they look forward to dovetailing development strategies with China. Alan Bollard, Executive Director of the APEC Secretariat, expressed in an interview that China's domestic demand is rapidly expanding, its service industry development is accelerating, and the Internet economy will bring more development momentum to China's economy. In the background of global economic slowdown, we have received the most positive evaluation over recent years.

Wang Yi said that by attending the two summits, President Xi Jinping guided the development courses of the G20 and the APEC, enhanced friendly relations with relevant countries and shown the image of China as a responsible major country, which will have important and far-reaching influences on promoting strong, sustainable and balanced growth of world economy as well as the long-term development of the G20 and the APEC.

The international media gave wide coverage on President Xi Jinping's attendance at the two summits, commenting that China has put forward comprehensive proposals, concrete measures and ambitious initiatives. The views and suggestions raised by President Xi Jinping on international and regional cooperation showed China's sincere willingness and constructive attitude to push sustainable and stable world economic growth and promote the Asia-Pacific cooperation, indicating that China is playing a more and more positive role on the international arena.

Wang Yi said that before the convening of the G20 Summit, a series of terrorist attacks happened in Paris, which shocked the world. President Xi Jinping strongly condemned terrorism with leaders of other countries and systematically elaborated China's propositions. He emphasized that counter-terrorism should follow the principles of the UN Charter and the basic norms governing the international relations, pool efforts, address both symptoms and root causes and avoid double standards, and China supports the UN Security Council to adopt a resolution and advocates holding a high-level UN meeting, which have been widely responded by other parties. Regarding related refugee issue, President Xi Jinping proposed that all countries should jointly cope with it, and announced that China will increase humanitarian aid. All parties affirmed this and held that it fully embodies the sense of responsibility of China on major global issues.

In the end, Wang Yi said that in the grand context of economic globalization, China has deeply integrated into the world with which it shares weal and woe. The stronger China grows, the more secure the peace in the Asia-Pacific region and the world will be; the steadier China's economy runs, the more promising the prosperity of the Asia-Pacific region and the world will become. At the fifth plenary session of the 18th CPC Central Committee, China has made "openness" one of its five development notions, reiterating that its door will forever be open to the world with increasing opening-up efforts. The notion and deployment of open development, which progresses from the pursuit of open strategy of mutual benefits and win-win results to the development of higher-level open economy and then to the proactive participation in global economic governance and public goods supply, shows that the CPC Central Committee, with Comrade Xi Jinping as General Secretary, has an in-depth understanding of the development trend and demonstrates its broad vision based on both domestic and international situations. Together with all countries across the world, we will keep learning from each other, drawing on each other's strengths and conducting equal cooperation. While developing itself, China will also contribute more Chinese wisdom and Chinese efforts to the world peace and development.

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