CGTN: How China injects stability and fresh momentum into Asia-Pacific development
News Summary
CGTN, ahead of the 32nd APEC Economic Leaders' Meeting in Gyeongju, South Korea, published an article highlighting China's role in continuously injecting stability and fresh momentum into Asia-Pacific development over the years. Chinese President Xi Jinping is set to attend the meeting and make a state visit to South Korea, marking his first overseas trip since the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC). The article emphasizes China's commitment to openness, connectivity, and win-win cooperation, citing Peru's Chancay Port project as an example of new trade routes between Latin America and Asia. In the first three quarters of 2025, China's trade with other APEC economies grew by 2% year-over-year, reaching 19.41 trillion yuan ($2.73 trillion), representing 57.8% of its total trade. China is actively promoting regional integration, opposing protectionism and unilateralism, and high-quality implementing RCEP while proactively seeking to join CPTPP and DEPA. Furthermore, the article highlights China's drive for innovation, promoting digital, intelligent, and green transformation, with examples like the China-ASEAN Expo and electric bus projects in Chile showcasing cooperation in new energy, AI, and advanced materials. China also fosters inclusive growth through initiatives such as the Global Development Initiative (GDI) and poverty reduction and food security projects in partners like Papua New Guinea, aiming for shared prosperity.
Background
This report focuses on China's role in global and regional economic governance, particularly within the framework of the Asia-Pacific Economic Cooperation (APEC). Established in 1989, APEC is one of the most significant multilateral economic forums in the region, aimed at promoting free trade and economic cooperation across the Asia-Pacific. The 2025 APEC meeting marks its 32nd session, underscoring its long-standing importance in the region. Chinese President Xi Jinping's participation and state visit to South Korea, his first overseas trip after a key CPC plenum, highlight China's continued emphasis on regional diplomacy and economic leadership. The article's context of increasing global geopolitical and economic challenges reflects China's push for multilateralism and open trade, contrasting with the 'America First' policies of the incumbent Trump administration.
In-Depth AI Insights
What are China's strategic intentions behind emphasizing openness and multilateralism ahead of the APEC meeting? China's high-profile promotion of its commitment to openness, connectivity, and multilateralism ahead of the APEC meeting serves several key strategic intentions: - Countering US-led regional order: Against the backdrop of the Trump administration's 'America First' and Indo-Pacific strategies, China seeks to build a more inclusive, China-centric economic order in the Global South and Asia-Pacific by highlighting its role in regional frameworks like RCEP, CPTPP, and DEPA, thereby potentially diminishing US influence. - Boosting soft power and development narrative: By showcasing contributions in infrastructure (e.g., Chancay Port), technological innovation (e.g., green transition), and poverty alleviation (e.g., Juncao project), China aims to position its development model and cooperation philosophy as a more attractive option for developing nations, enhancing its international prestige and discourse power. - Fortifying supply chain resilience: In an era of geopolitical uncertainty impacting global supply chains, emphasizing trade growth with APEC economies and regional economic integration helps China solidify its central position in regional supply chains, mitigating external risks. What are the deeper implications of China's emphasized 'stability and fresh momentum' for the regional investment landscape? China's emphasis on 'stability and fresh momentum' has several deeper implications for the regional investment landscape: - Rebalancing capital flows: China's active promotion of regional integration and infrastructure projects (like the 'New Inca Trail') will attract more capital towards regional economies deeply tied to the Chinese economy, particularly in Latin America and Southeast Asia, which may become significant destinations for Chinese technology and capital exports. - Industrial upgrading and green investment opportunities: The focus on digital, intelligent, and green transformation signals China's intent to channel more innovative and high value-added industrial investments, such as in new energy, AI, and advanced materials, into relevant APEC member states. This presents opportunities for industrial upgrading in these nations and new green technology and sustainable development investment avenues. - Hedging geopolitical risks: Amid escalating US-China competition, China's deepening cooperation with APEC economies offers regional businesses a strategy to partially hedge geopolitical risks, encouraging greater participation in China-centric regional value chains rather than over-reliance on US policy-influenced supply chains. Considering the US trade policy under the Trump administration, how will the APEC meeting serve as an arena for US-China competition for influence in the Asia-Pacific? The APEC meeting will inevitably serve as an arena for US-China competition for influence in the Asia-Pacific, specifically through: - Competition of narratives and standards: China will use the APEC platform to promote its narrative of openness, multilateralism, and shared development, advancing its standards and norms in areas like the digital economy and green development. Conversely, the Trump administration may use bilateral talks or allied mechanisms to emphasize concerns over trade fairness, market access, and national security, challenging or undermining China's regional agenda. - Clash over regional trade agreements: With China actively seeking to join CPTPP and DEPA, the APEC meeting will be an occasion for China to demonstrate its willingness to adhere to higher-standard trade rules. In contrast, the US may continue to favor bilateral agreements and potentially pressure allies to limit China's influence in these multilateral frameworks, leading to further fragmentation of the regional trade landscape. - Contestation of investment and development models: While China provides funding and projects through GDI and the Belt and Road Initiative in developing nations, the US and its allies may offer alternative high-quality infrastructure financing solutions through initiatives like the 'Blue Dot Network,' competing for investment projects and development partners among APEC members.