China to host 2026 APEC summit, championing Asia-Pacific cooperation

LIMA, Nov. 16 -- When China first hosted the Asia-Pacific Economic Cooperation (APEC) summit in 2001, the nation stood at a crossroads, poised to join the World Trade Organization.

It was a moment of transformation that signaled China's readiness to step fully into the global economic arena.

By the time China hosted APEC again in 2014, the story was markedly different. The country had become an economic powerhouse, with its deeper integration into the world economy fueling a decade of breathtaking growth.

Now, China is set to play host again with a significant mission: to unite Asia-Pacific countries to champion open economic and trade cooperation while rejecting protectionist and confrontational trade tactics.

On Saturday, Chinese President Xi Jinping, speaking during the 31st APEC Economic Leaders' Meeting, held in Peru's capital Lima, announced that China would welcome APEC leaders to his country in 2026.

"We look forward to working with all parties to deepen Asia-Pacific cooperation to the benefit of the peoples in the region," Xi said.

Its experience of hosting APEC twice before shows China can foster consensus, said Carlos Vasquez, 2024 chair of APEC senior officials ambassador.

"China played a very important role along with some other very important economies ... to gain consensus again from the very beginning in the APEC year 2024 here in Peru," said Vasquez.

China will play a pivotal role in strengthening the APEC forum in 2026 when it takes on the role of host, as much as it demonstrated during its successful leadership in 2014, he said.

During his speech, Xi urged APEC economies to "act in solidarity and cooperation to meet the challenges, fully deliver on the Putrajaya Vision 2040, build an Asia-Pacific community with a shared future, and start a new era in Asia-Pacific development."

The Putrajaya Vision 2040, adopted by APEC leaders in 2020, envisions "an open, dynamic, resilient, and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations."

However, this vision of shared prosperity and enduring stability faces growing challenges.

Geopolitical tensions, coupled with economic disruptions fueled by unilateralism, protectionism, and attempts at "decoupling" and "de-risking," have created unprecedented pressures on the region's stability and growth.

"We should stay committed to multilateralism and an open economy, firmly uphold the multilateral trading system with the World Trade Organization at its core, fully reactivate APEC's role as an incubator of global economic and trade rules, and advance regional economic integration and connectivity," said Xi.

In interviews with Xinhua, Asia-Pacific experts and officials noted that China's remarkable success through high-quality opening-up has given it a deep understanding of the importance of an open global economic system and the critical need to advance multilateral and win-win cooperation.

As a major country in the Asia-Pacific, China "has consistently adhered to a development path that aligns with APEC's spirit of openness, inclusiveness, and mutual benefit," said Woo Su-keun, director of the Institute of East Asian Studies of Korea.

"It is more important for countries to demonstrate strong leadership through concrete actions rather than words," Woo said.

For Ong Chong Yi, executive director of the Malaysian think tank Belt and Road Initiative Caucus for Asia-Pacific, China has opened its market to provide development opportunities for countries in the region, driving inclusive economic growth within the Asia-Pacific.

"At the same time, China actively supports infrastructure development in developing nations, enhancing connectivity and economic and social inclusivity across the region. These efforts create more opportunities for shared progress and prosperity," he said.

In his speech on Saturday, Xi emphasized the need to make green innovation a catalyst for the Asia-Pacific.

"We need to push forward coordinated digital and green transformation and development to create new momentum and new drivers for Asia-Pacific development," Xi said, calling for fostering an open, fair, just and nondiscriminatory ecosystem for innovation.

China is one of the most important and largest investors to help the world carry out green transformation, said Nikorndej Balankura, spokesperson of the ministry of foreign affairs of Thailand.

China is also helping countries in the Global South and many others to develop sustainable green economies, he added.

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