Xi Jinping, "China Will Not Pursue Decoupling"

Attending APEC CEO Dialogue, "China is Integrated with the Global Economy"
Expresses Confidence in China's Economy

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Chinese President Xi Jinping announced at the Asia-Pacific Economic Cooperation (APEC) CEO Dialogue that China will further expand openness.

According to China’s state-run Xinhua News Agency on the 19th, President Xi said at the APEC CEO Dialogue held via video conference that "China is already deeply integrated into the world economy and international systems," and "We will not pursue decoupling."

[Image source=Yonhap News]

President Xi emphasized, "Openness is a prerequisite for national progress, and closure inevitably leads to backwardness," adding, "Although unilateralism and protectionism are widespread, China’s opening-up to the outside world has not stopped."

This statement is interpreted as targeting the United States, which has attempted economic decoupling from China and pressured China with protectionist policies.

President Xi also said that China will participate more actively in international division of labor, integrate more effectively into global industrial chains, supply chains, and value chains, and proactively expand foreign exchanges and cooperation.

He continued, "In China’s new development paradigm, the potential of the Chinese market will be fully realized," and "This will create more demand for all countries."

President Xi stated that China will sign free trade agreements with more countries and actively participate in bilateral or multilateral investment and trade mechanisms.

He also expressed strong confidence in the Chinese economy. President Xi evaluated, "The Chinese economy recovered from the impact of the epidemic in the third quarter and shifted to positive growth," saying, "This fully demonstrates the resilience and vitality of the Chinese economy." He added that China will further devote itself to modernizing its national governance system and capacity.

This content was produced with the assistance of AI translation services.