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Xi Jinping Attends APEC CEO Summit and Delivers Important Speech

Xi Jinping Attends APEC CEO Summit and Delivers Important Speech

Having Full Confidence in China's Economic Development Prospects to Build a Better Asia-Pacific That Will Guide the World and Benefit All Parties and the Offspring

On Oct. 7, 2013, President Xi Jinping attended the APEC CEO Summit in Bali, Indonesia, and delivered an important speech "Deepen Reform and Opening up to Build a Better Asia-Pacific", stressing that the Chinese economy maintains good development momentum, and China will insist on the right direction of reform and opening up to ensure reform and opening up never stop. We hold firm confidence in the sustained and healthy development of the Chinese economy. China will bring more opportunities to the development of the Asia-Pacific. China hopes to join hands and be in one mind with Asia-Pacific partners to jointly build a better Asia-Pacific that will guide the world and benefit all parties and the offspring.

Xi Jinping pointed out that at the moment, the recovery of the world economy is filled with difficulties and setbacks, the Asia-Pacific economy maintains good development momentum, but at the same time also faces new challenges. Both developed economies and developing economies are seeking new growth momentum, which can only come from reform, from adjustment, and from innovation. Asia-Pacific economies should promote the establishment of an open economic development mode, featuring development and innovation, interlinked growth, and interests integration, and help the Asia-Pacific economy play a leading role in the recovery of the world economy.

President Xi Jinping said that China is working hard in this direction. I am fully confident about the future of the Chinese economy. I am confident because first of all China's growth rate is within the reasonable range and expected goals. We have been aware that to fundamentally addressing the issue of the long-term growth of China's economy, we should unswervingly advance structural reform, even if it involves a sacrifice of speed. 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 draining a pond to catch fish is no formula for sustainable development. Second, I am confidant because the quality and efficiency of China's economic development are improving steadily. Instead of taking GDP growth as the sole criterion for success, China is now focusing more on improving the quality and benefits of economic growth. Facts have proven that this is a responsible policy not only for China itself, but also for the world at large. Third, I am confident because China has strong endogenous power. This includes the ongoing urbanization, the new generation of workers becoming modern and advanced professional talents with better quality, vigorous implementation of the strategy of innovation-driven development, continuous expansion of domestic needs and consumer market, adherence to the principle of putting people first, and enabling more people in broader regions to share the benefits of development. Fourth, I am confident because the good development prospects of Asia-Pacific Region. The Asia-Pacific market is taking shape. The brewing new technological and industrial revolution will accumulate competitiveness for the Asia-Pacific Region. Economies in the Asia-Pacific Region have much stronger capacity to fend off risks.

Xi Jinping said that we stay awake to problems and challenges, and are taking proper measures to nip them in the bud. China's economy has entered a new phase of development, and is undergoing profound transformation and structure adjustment. China needs to comprehensively deepen reform and opening up to move forward. China is drawing up a master plan for the deepening of reform in all respects, with the overall purpose of pushing forward reform on economy, politics, culture, society, ecological civilization construction, and other fields, and adding new momentum for the economic development through reform. We will implement a more proactive opening-up strategy, improve the open economic system, featuring mutual benefits and win-win results, multi-element equilibrium, safety and efficiency.

Xi Jinping said that rainbow often appears after wind and rain. There is a saying that there is no mountain higher than man, and no road longer than 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 met.

Xi Jinping stressed that China is a member of the Asia-Pacific family. 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 Asia-Pacific. China will firmly maintain the regional peace and stability, vigorously promote regional development and prosperity, and be committed to building regional cooperation framework that stretches across the Pacific Ocean and benefits all parties.

Xi Jinping said that the Asia-Pacific is the space for our joint development, and we all are the sailing ships moving forward in the sea of the Asia-Pacific. China hopes to join hands and be in one mind with Asia-Pacific partners to jointly build a better Asia-Pacific that will guide the world and benefit all parties and the offspring. The Asia-Pacific Region should seek common development, insist on open development, promote innovation and development, and seek interactive development. We should firmly set up the awareness of Asia-Pacific community of common destiny, and form a pattern where all economies have good interactions and coordinated development. China proposes to prepare for the establishment of the Asian Infrastructure Investment Bank, offering financial support for the construction of infrastructure in developing countries in the region.

In the end, Xi Jinping pointed out that the business community is the main force to promote the development of economy and trade. China welcomes and encourages enterprises of all economies to invest in China. In 2014, China will host the APEC Economic Leaders' Meeting. We hope representatives from the Asia-Pacific business community will come to Beijing to discuss things together, and jointly witness another important moment of the Asia-Pacific development.

Peng Liyuan, Wang Huning, Li Zhanshu, Yang Jiechi and others were present.

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