Written Speech by H.E. Xi Jinping

President of the People’s Republic of China

At the APEC CEO Summit

Bangkok, 17 November 2022

Representatives of the Business Community,

Ladies and Gentlemen,

Friends,

It gives me great pleasure to come to the beautiful city of Bangkok for the APEC CEO Summit.

Our world has once again reached a crossroads. Where is it headed? What should we do here in the Asia-Pacific? These questions demand urgent answers.

The 21st century is the Asia-Pacific century. Our region, which accounts for one-third of the world’s population, over 60 percent of the global economy and close to half of global trade, is the most dynamic growth belt in the world. We, members of this region, have come a long way in pursuing economic development, and we will surely write an even more brilliant chapter in the years ahead.

Currently, the Asia-Pacific enjoys overall stability. Cooperation in our region has been steadily advanced, and peace, development and win-win cooperation remain the underlying trend in this region. On the other hand, the world has entered a new period of fluidity and change. Both geopolitical tensions and the evolving economic dynamics have exerted negative impact on the development environment and cooperation structure of the Asia-Pacific. The COVID-19 pandemic keeps resurging. The global economy faces mounting downward pressure and growing risk of recession. Food, energy and debt crises are emerging together. Many countries are encountering considerable difficulties in economic and social development. Various factors of uncertainty and instability are growing. The Cold War mentality, hegemonism, unilateralism and protectionism are mounting. Acts that distort international norms, disrupt economic linkages, inflate conflicts in regions, and impede development cooperation are all too common. All these pose a serious challenge to peace and development in the Asia-Pacific.