Remarks by H.E. Hu Jintao

President of the People’s Republic of China

At the 17th APEC Economic Leaders’ Meeting

15 November 2009

Prime Minister Lee Hsien Loong,

Dear Colleagues,

It gives me great pleasure to meet you once again and exchange views with you on regional and international issues of common interest. I wish to thank Prime Minister Lee Hsien Loong and the Singapore government for the thoughtful arrangements they have made for the meeting.

The twenty-one APEC economies together make up 40% of the world’s population, 54% of global economy and 44% of international trade. What we say here will attract worldwide attention, and what we agree upon here will have a major impact on the development of the world and this region in particular.

Last year, we made the firm commitment in Lima to unite as one and take active measures in response to the international financial and economic crisis. The coordinated efforts of the international community have paid off over the last year. The world economy has shown positive signs of stabilization and rebound. With an economic recovery better than expected, the Asia-Pacific region is likely to become a major driving force in the full recovery of the world economy.

At present, the profound impact of the international financial crisis still persists and the foundation is not yet solid for the world economic upturn. Trade and investment protectionism of various forms has noticeably risen, the intrinsic problems in the world economic system are yet to be solved at source and the effort to fully restore world economic growth is beset by uncertainties and destabilizing factors. In addition, the Doha Round negotiations have been fraught with difficulties and twists and turns, and global issues such as climate change, food security, energy and resource security, public health security and major natural disasters have become more pronounced. These are all daunting challenges to the full recovery and long-term growth of the world economy, including in the Asia-Pacific region.

At this critical juncture, we should all the more get united, follow the principle of openness, cooperation and mutual benefit, strengthen coordination and work together to secure the momentum of world economic recovery and promote balanced and orderly economic growth. At the same time, we should take the financial crisis as an opportunity to take a serious look at the root causes of the crisis and the underlying problems in various economies exposed by this crisis. We should speed up the transformation of economic development patterns, take effective steps to address the fundamental and structural problems in economic development and lay a solid foundation for sound and fast economic growth. To this end, China would like to propose the following:

First, make unremitting efforts to fully restore world economic growth. Leaders at the G20 Summit in Pittsburgh made a clear statement to maintain stimulus measures to support economic activity until recovery is assured. All economies should maintain the continuity and stability of their macroeconomic policies and take more solid and effective steps to boost consumption and expand domestic demand. We should firmly uphold a fair, free and open global trading and investment system and maintain the free flow of goods, investment and services. This is essential to the full recovery and long-term development of the world economy.

Second, take a long-term perspective and promote sustainable growth. To realize sustainable economic growth, it is imperative to develop a resource-conserving and environment-friendly mode of production, way of life and mode of consumption, and strike a balance among economic growth, social progress and environmental protection. We should take into consideration the need for both immediate growth and long-term development. While restoring economic growth, we should optimize the energy mix, upgrade industries, develop green economy, and foster new growth areas, thus creating conditions for sustainable economic growth. Developed members should provide financial, technological and capacity-building support to developing members and enable them to get access to climate friendly technologies in order for such technologies to better serve the common interests of mankind. Developing members should, in the light of the actual circumstances, explore a path of sustainable growth suited to their own conditions and development stages.

Third, follow a holistic approach and advocate inclusive growth. To achieve sustainable social development, it is imperative to ensure that economic globalization and economic growth benefit all countries and regions and people of all sectors. An inclusive growth will help address social problems in the course of economic development and lay a solid social foundation for trade and investment liberalization and long-term economic development. While tackling the financial crisis, we should improve the industrial structure, raise the quality of economic growth, increase overall employment and enhance the capacity of fending off crises and risks. We should strengthen the social safety net and focus on resolving issues concerning people’s well-being, including education, health care, old age support and housing, in order to achieve the goal of development for the people and by the people and development benefits shared among the people. China will host the 5th APEC Human Resource Development Ministerial Meeting next year. The meeting will provide a platform for exchanges and cooperation among participants in addressing social problems as a result of the international financial crisis and seeking ways to achieve inclusive growth. I look forward to your active support and participation.

Fourth, engage in comprehensive coordination and pursue balanced growth. Only with balanced and orderly development of the world economy can there be common prosperity. The root cause for world economic imbalance is the yawning development gap between the North and the South. Developing members can become an important force in propelling the full recovery and long-term growth of the world economy. The international community, developed members in particular, should view development issues in a broader and longer-term perspective, deliver as quickly as possible on their pledges on development aid, trade finance and concessional loans, open markets to developing members and help developing members raise the level of economic development. International financial institutions should help developing members maintain financial stability, promote economic growth and enhance their resilience and the capacity of economic repair in the wake of a crisis. Only by accommodating the interests and needs of both developed and developing members and by achieving balanced and coordinated economic growth of both sides can we truly have balanced and orderly development of the world economy.

Dear Colleagues,

Global challenges require global responses. Recently, leaders from many countries have gathered together more frequently to discuss ways to address global issues. This shows that the international community has come to recognize that with deepening economic globalization, working together for win-win outcomes is the only option we have. Economies in the Asia-Pacific region, which are diverse and highly complementary to one another, have gained valuable experience in working together to meet challenges. This has put APEC cooperation on a solid footing. In view of the agenda of our meeting, I wish to make a few points on some important issues concerning the economic and social development in today’s world and in our region in particular.

— Support sound development of the multilateral trading regime with stronger confidence. To uphold stability of the multilateral trading regime and achieve early success of the Doha Round negotiations will help bring about more open international trade, curb trade protectionism, advance world economic recovery, and therefore serves the common interests of all parties. As a firm supporter of trade and investment liberalization and facilitation, China is committed to the establishment of a fair, equitable and non-discriminatory multilateral trading regime and has participated in the Doha Round negotiations with a constructive stance. We are ready to join all other parties in a common effort to resolve the remaining issues at an accelerated pace on the basis of locking in the existing achievements and respecting the Doha mandate, and achieve early comprehensive and balanced outcomes at the negotiations in order to realize the goals of the development round. We should follow through on the commitments we have made, firmly oppose protectionism in all manifestations, guard against and redress all kinds of covert protectionism, reduce and remove trade barriers and address trade frictions through dialogue and consultation.

— Meet the climate challenge through full cooperation. Climate change is a grave challenge to mankind and calls for a concerted international response. The UN Framework Convention on Climate Change (UNFCCC) and its Kyoto Protocol represent the main channel for the international efforts to meet this challenge, and international cooperation in this respect must follow the principle of common but differentiated responsibilities. Developed countries should continue to take the lead in emissions reduction after 2012 in keeping with the principles set out in the UNFCCC and the requirements made in the “Bali Roadmap”. They should at the same time provide financial support and technology transfer to developing countries to help them enhance capacity in tackling climate change. Developing countries, on their part, should also endeavor to meet the climate challenge by implementing sustainable development strategies. At the recent United Nations Summit on Climate Change, I stated in clear terms on behalf of the Chinese government that China will continue to take strong measures to conserve energy, reduce emissions, develop renewable energies and nuclear energy, increase forest carbon sink and build green economy, and contribute its share to the international cooperation against climate change. The Copenhagen Conference is an important meeting for the international community to work together against climate change. China will participate in the negotiations with a positive and constructive attitude and would like to work with all other parties for positive outcomes at the conference. In recent years, APEC has made useful efforts in tackling climate change through cooperation. One good example is the measures APEC has introduced in forest protection in the light of the special features of this region. We hope that all parties will continue to support and participate in the activities of the Asia-Pacific Network for Sustainable Forest Management and Rehabilitation established last year, and make joint efforts, including by offering policy recommendations to help increase carbon sink and mitigate climate change in the region.

— Promote regional economic integration with a multi-pronged approach. To accelerate regional economic integration is of great and practical significance to this region. APEC member economies are at different development stages and with diverse features. We should promote regional economic integration at different levels, in various scopes and through multiple channels. We should step up cooperation in economic restructuring, help member economies improve their business environment and reduce operational costs, and help business communities, small and medium-sized enterprises in particular, tide over difficulties. We should enhance connectivity in infrastructure and other areas among member economies, improve trade, telecommunication and transportation networks in the region and make the flow of trade, investment and personnel easier, faster, and safer. Early this month, China successfully hosted the APEC Port Services Network Conference on Port Development. Participants at the conference discussed ways to deepen cooperation among ports and related industries in the Asia-Pacific and strengthen the role of ports and the shipping industry in integrated transportation and the international supply chain, thus making a positive contribution to closer links in the region.

— Counter non-traditional security threats through coordination and cooperation. The growing global issues in recent years have had a major impact on economic and social development and people’s life in our region. We should act in a spirit of global development partnership featuring equality, mutual benefit and win-win outcomes to safeguard global food security through stronger cooperation. We should establish and follow a new energy security concept featuring mutually beneficial cooperation, diverse development and common energy security through coordination to stabilize energy prices, improve energy mix, facilitate transfer of energy technologies and reduce energy poverty. We should step up coordination in the prevention and control of influenza A(H1N1), including cooperation in information exchange, early warning, crisis management and mutual assistance in disease prevention, to better safeguard people’s well-being. We should continue to deepen cooperation in disaster prevention and reduction, sum up the best practices and successful experience in our cooperation, increase exchanges and mutual assistance and fight natural disasters together.

Dear Colleagues,

This year marks the 20th anniversary of the establishment of APEC. Over the past 20 years, APEC has gradually put in place comprehensive, multi-tiered and wide-ranging cooperation mechanisms, pushed forward regional economic cooperation and raised people’s awareness of the Asia-Pacific community. Bearing in mind the diversity in the Asia-Pacific region and different levels of economic and social development among its members, APEC has opened up new avenues of regional cooperation based on the principles of voluntarism, consensus-building and incremental progress. It has made useful efforts in exploring ways to promote regional trade and investment liberalization and facilitation with a combination of individual and collective action plans. And it has made constant headway in exploring new ways of economic and technical cooperation and played an important role in bridging the development gap among member economies and promoting common prosperity.

China, as a member of the Asia-Pacific community, values and actively participates in APEC cooperation in various fields. China has vigorously promoted regional trade and investment liberalization and facilitation and supported faster regional economic integration. China is a strong advocate of economic and technical cooperation and has taken an active part in such collaboration. We have put forward a number of cooperation initiatives aimed at deepening economic cooperation in the region. China is committed to unity of the Asia-Pacific community and has worked energetically for a harmonious Asia-Pacific region of enduring peace and common prosperity. We have, through our involvement in APEC cooperation, promoted our own development, and also made important contribution to economic development in the region and the world at large.

Profound changes are underway in the Asia-Pacific and world economy. After 20 years of development, APEC itself also faces new challenges and problems. Reviewing the past and looking ahead to the future, we believe that APEC should advance with the changing times, reform and improve itself and raise the efficiency of its cooperation. Only in this way will the functions and role of APEC be brought into full play, its vigor and vitality be maintained, and its status and influence be further enhanced.

First, APEC should focus more on its unique strengths and continue to promote trade and investment liberalization and facilitation. As the champion and pioneer of trade and investment liberalization and facilitation in the region, APEC should continue to pursue regional economic cooperation, promote regional economic integration and raise the level of economic development of all its members. The Bogor Goals concern APEC’s credibility, cohesiveness and future development. If the developed members can meet the Bogor Goals as scheduled, it will be seen as a manifestation of APEC’s resolve to advance trade and investment liberalization and oppose trade protectionism. This will give a strong boost to the confidence of all parties, bring about greater regional trade and move forward regional economic integration. China therefore supports APEC in giving priority to meeting the Bogor Goals by developed members in its near-term agenda and taking solid steps towards this objective.

Second, APEC should scale up input and promote even greater achievements in economic and technical cooperation. Economic and technical cooperation, as one of the two major pillars of APEC, serves as an important guarantee for continued progress in trade and investment liberalization and facilitation and offers us the means to bridge the development gap among APEC members and achieve common prosperity. We should place high importance on economic and technical cooperation, bearing in mind that such cooperation will contribute to the balanced and orderly development of all members. We need to scale up input into economic and technical cooperation, actively explore new ways of cooperation under the new circumstances, take earnest steps to help developing members in capacity building, increase technology transfer and bring economic and technical cooperation to a higher level.

To promote APEC economic and technical cooperation, the Chinese government will invest US$10 million to establish a China-APEC Cooperation Fund. The fund will be used to encourage and support participation by relevant Chinese departments and businesses in APEC economic and technical cooperation.

Third, APEC should continue to increase its institutional dynamism through reform and innovation. The important progress made in the reform of APEC’s operating mechanisms in recent years has laid the groundwork for its future development. Under the current circumstances, APEC should adopt a proactive approach in adapting to new developments and meeting new challenges and steadily push forward its own reform and institutional building. It should optimize resource allocation, raise work efficiency and make its cooperation more effective so that its efforts in addressing major economic issues will be more relevant, focused and timely. This will help APEC consolidate and increase its influence in regional cooperation and make new and even greater contribution to economic and social development and improving people’s livelihood in the Asia-Pacific.

Dear Colleagues,

Not long ago, the Chinese people celebrated the 60th anniversary of the founding of the People’s Republic of China. Over the past 60 years, and especially the past 30 years since reform and opening-up, China has scored great development achievements and brought about enormous changes. We have completed the historic transition from a highly centralized planned economy to a vibrant socialist market economy, and from a closed or semi-closed society to one that is fully open to the outside world. China’s future and destiny is more closely tied to that of the whole world. China needs an international development environment featuring peace, stability, harmony and cooperation. And China is ready to contribute its share to the building of such an environment. China will work with the rest of the international community to meet the challenges together and seek inclusive, sustainable and balanced economic growth. China is committed to the path of peaceful development and a win-win strategy of opening-up. We will always pursue development that is peaceful, open and cooperative and make unremitting efforts towards a harmonious world of enduring peace and common prosperity.

Thank you.