Chinese President Hu Jintao and leaders of other Asia-Pacific Economic Cooperation (APEC) members met in Honolulu, Hawaii, Sunday to find ways to speed up regional economic integration, free trade and investment, and economic and technological cooperation.
The annual meeting, hosted by U.S. President Barack Obama in his home state, is being convened at the JW Marriott Ihilani, Honolulu, to boost regional economic integration, trade, green growth, job creation in green industries, energy security, and regulatory cooperation.
President Hu is expected to speak at the meeting. He will introduce China's stand on the topics and call for "improving global economic governance, shifting the growth methods, promoting economic globalization and regional economic integration," according to Chinese diplomats.
Hu will join other APEC leaders in meeting with the APEC Business Advisory Council (ABAC), which presents recommendations to APEC leaders in an annual dialogue and advises APEC officials on business sector priorities and concerns.
During this year's dialogue, APEC leaders are expected to discuss regional economic integrity, the development of small- and medium-sized enterprises, food security and other issues with ABAC representatives.
This year's APEC meeting convenes at a time when the global economic recovery is fraught with instability and uncertainty, and encounters growing risks and challenges.
Some major economies are experiencing an economic slowdown, while in the eurozone, sovereign debt risks are rising in some countries. High inflationary pressure is a problem in emerging economies, including some in the Asia-Pacific region. Protectionism in various forms is mounting.
In face of the challenges, the APEC leaders will look for effective measures to stimulate the global economy, regional economic integration, free trade and investment, and economic and technological cooperation.
China hopes the APEC members will implement the economic growth strategy agreed on last year, striving to achieve a balanced, inclusive, sustainable, innovative and safe economic growth, said Wu Hailong, assistant foreign minister of China, at a press briefing last week.
He said that China expects the APEC members to comprehensively promote regional trade and investment liberalization, adding that all members should fulfill their commitments and oppose all forms of trade protectionism.
APEC should strengthen economic and technical cooperation to enhance the ability of the developing members to develop further, and therefore to achieve common prosperity, said the senior diplomat.
"APEC members generally hold positive attitudes toward U.S. proposals in various fields such as green growth, innovation policy. But some of the U.S.'s expected outcomes are beyond the capacity of the developing members, and they have expressed their difficulties and concerns," Wu said.