Manila, 19 November 2015

Mr. Chair,
Dear Colleagues,

Last November, we gathered in Beijing and mapped out the blueprint for Asia-Pacific development. Today, one year later, we are meeting again for the same objective of deepening cooperation for the common development of the Asia-Pacific. We would like to thank the Philippines for the tremendous efforts it has made for the meeting.

Two days ago, G20 leaders met in Antalya to feel the pulse of the world economy. It was generally believed that despite the many uncertainties in the world economy, we still have reasons to be confident about the future.

The Asia-Pacific is a mirror of the world. Against the backdrop of sluggish recovery, weak demand and divergence in the world economy, Asia-Pacific economies are also confronted with such challenges as shaky foundation for growth, transition from old to new drivers and incomplete structural adjustment. That said, the Asia-Pacific remains the locomotive of the world economy. We should proceed from the reality, look into the future, and make full use of the important platform of APEC to advance win-win cooperation, thus enabling the Asia-Pacific to continue to be the engine of global growth.

- We should improve the strategic framework for medium- to long-term cooperation in the Asia-Pacific with the eyes on the future. A great thinker in ancient China said, "Without a clear vision, nothing can be accomplished." Just like a person must have a dream, cooperation must have a direction. Asia-Pacific cooperation should be forward-looking to shape the future. It should have an ambitious program and aim to fulfill its grand vision.

This is exactly what we have been after over these years. Last year, we started the process of the Free Trade Area of the Asia-Pacific (FTAAP), and adopted the APEC Blueprint on Connectivity. This year, we have continued our efforts to formulate strategic frameworks and action plans in numerous areas. We should continue to carry out strategic, forward-looking and progressive cooperation, and identify the goals, measures and timetables of cooperation in priority areas. China has submitted a report on the progress of implementation of the outcomes of the Beijing APEC meeting. We hope that all the members could give priority to the implementation of the agreement reached among the leaders.

- We should find new drivers for the Asia-Pacific economy through reform and innovation. In the face of new circumstances and new challenges, we need to rely on both reform and innovation to unlock the tremendous potential and release the driving force for the Asia-Pacific economy.

We should promote the shift of growth model and adjust the economic structure. We should speed up innovation to boost the dynamism of the economy. China endorses the formulation and implementation of the APEC Services Cooperation Framework, and is in favor of giving SMEs and micro-businesses greater access to the global market. We should implement well the APEC Strategic Blueprint for Promoting Global Value Chain Development and Cooperation to boost the value of economic growth. We should expand and deepen cooperation in high-potential areas such as urbanization, internet economy and blue economy in order to release positive energy and cultivate new growth points for the economy. I would like to announce that China will host the first APEC High-Level Forum on Urbanization next year to build a platform for APEC exchanges and cooperation on urbanization.

- We should build an open Asia-Pacific economy by advancing integration. APEC should play a leading and coordinating role to strengthen the mechanism for the sharing of information on regional trade agreements, promote their coordinated development, and establish an institutional platform for the building of an open Asia-Pacific economy.

We should speed up the process and complete the building of the FTAAP as early as possible. We should finish the joint strategic studies as scheduled, and come up with conclusions and suggestions that are in the long-term interests of all parties, in order to prepare the ground for the transition into the next stage. While advancing regional trade agreements, the parties should continue to embrace openness and inclusiveness, seek win-win cooperation, and work together to uphold the multilateral trading regime. We should continue to provide strong guidance for concluding the Doha Round negotiations, and strive for balanced, meaningful and development-oriented outcomes of the tenth WTO ministerial conference.

- We should translate consensus into outcomes through concrete actions. "Seeing is not as good as knowing, and knowing is not as good as acting." The connectivity blueprint adopted at the Beijing meeting is important for overcoming the bottlenecks in Asia-Pacific's development, and therefore must be pushed forward with greater efforts. The Asian Infrastructure Investment Bank (AIIB) is an important platform for regional connectivity. China and the relevant countries are making intensive preparations for its establishment. The bank is expected to be formally launched before the end of the year, and the selection of candidate projects for the AIIB has already started. The Chinese initiative of the Silk Road Economic Belt and the 21st Century Maritime Silk Road ("Belt and Road") is making steady progress, with economic corridors identified as the priority area of cooperation. The projects supported by the Silk Road Fund have started operation.

China will continue to contribute to APEC's capacity building. Last year, China announced the decision to donate US$10 million to APEC and provide 1,500 training opportunities for its developing members. Up to now, China has already delivered US$2.8 million as the first tranche of donation and trained nearly 1,000 personnel.

Given the ever closer ties and growing convergence of interests between the Asia-Pacific and the rest of the world, it is all the more important for APEC to strengthen cooperation with other international mechanisms. Last year, as the host of APEC, China actively engaged with Australia, the host of the G20, and enabled good coordination between the two mechanisms. Next year, China and Peru will respectively play host to the G20 and APEC meetings. We are ready to strengthen coordination with Peru and other parties to ensure the success of the two important meetings.

Dear Colleagues,

The future of Asia-Pacific belongs to each and every member of this big family. Last year in Beijing, we advocated mutual trust, inclusiveness, cooperation and mutual benefit as the guiding principles of Asia-Pacific partnership. These principles have captured the essence of our past experience of cooperation and represent our solemn commitment to the future. As such, they provide important guidance for our future cooperation.

China will deepen mutually beneficial cooperation and connectivity with countries in the Asia-Pacific, and maintain a peaceful and stable environment for development. China has already put forward the proposal for its 13th Five-Year Plan, which is underpinned by the concept of innovative, coordinated, green, open and shared development. China has the determination, confidence and ability to keep its economy on a sound track of sustained growth, and deliver more opportunities and benefits for the Asia-Pacific.

Thank you.