Xi Jinping, President of China, on the Asia-Pacific’s ties with China

Xi Jinping, President of China

 

The Chinese economy has remained consistently strong as we focus on reforms and liberalisation, and we are confident of maintaining this momentum going forward.

China and the Asia-Pacific share a symbiotic relationship. Both parties rely on one another for new job prospects and economic growth. We hope to establish more links with the Asia-Pacific in order to build a better and more prosperous future.

The global economic recovery will be filled with difficulties and setbacks. In the Asia-Pacific region it is no different, but let us not forget that we are on a good streak, and I believe that we will continue this trend for the foreseeable future. Advanced and developing economies alike are seeking new channels for growth, which can only come from reform and innovation.

Growth rates have been steady across the board, which gives me a lot of confidence in the future of the Chinese economy. We are committed to structural reforms in order to sustain, and even increase, growth over the long term. We are not short-sighted insofar that we might forego long-term benefits in exchange for short-term satisfaction. If structural reforms are necessary for long-term growth, then we will commit to these. Any cause we undertake will require due attention to both short- and long-range targets, taking into account both immediate and long-term interests. Killing the goose that lays the golden eggs and only considering immediate interests and long-term effects is not a formula for sustainable development.

I am also confident because China has strong endogenous power. This includes ongoing urbanisation, a growing generation of modern and professional talent, and better implementation of innovation-driven development. In addition, continuous expansion of domestic needs and the consumer market, adherence to the principle of putting people first, and enabling more people in other regions to share the benefits of development, are also strong factors going forward.

The development prospects for the Asia-Pacific region are very exciting. They are currently undergoing their own technological industrial revolution. Economies in the region have a strong capacity to fend off risks because of their increasing competitiveness.

We need to stay alert to potential obstacles and challenges. China needs to comprehensively deepen reform and open its own economy to move forward.

The rainbow often only appears after the winds and rain. There is a saying that there is no mountain higher than man, and no road longer than our feet. No matter how high the mountain is, and how long the road is, as long as we move forward with perseverance, there will be a day when the end is achieved.

China is a member of the Asia-Pacific family. Our economic relationship is interdependent. China cannot develop without the Asia-Pacific, and the Asia-Pacific cannot prosper without China. The sustainable and healthy development of the Chinese economy will bring greater opportunities to the development of the wider region. China will firmly maintain regional peace and stability, vigorously promote regional development and prosperity, and be committed to building a regional cooperation framework that stretches across the Pacific Ocean and benefits all parties.

Asia-Pacific is the space for our joint development, and we are all the sailing ships moving forward in the sea of the Asia-Pacific. China hopes to join hands with our regional partners to collaborate and build a stronger region that will help guide global economic recovery.

In terms of development, the region should seek common goals, insist on openness, promote innovation, as well as seek interaction.

The business community is an important force in promoting economic development and trade, and we welcome and encourage enterprises of all economies to invest in China. In 2014, China will host the Asia-Pacific Economic Cooperation Summit Leaders’ Meeting. We hope representatives from across the regional business community will come to Beijing to discuss things together and collaborate to jointly witness another important moment in the region’s development.

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Xi Jinping

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The Report: Sarawak 2015

Trade & Investment chapter from The Report: Sarawak 2015