The 30th Informal APEC Leaders' Meeting is approaching. Reporters learned from the Ministry of Commerce that over the years, China has been deepening its economic and trade cooperation with the other 20 APEC economies, contributing to the development of the Asia-Pacific economy.

       In 2022, China's import and export trade with APEC members reached US$3.73908 trillion, accounting for 59.7 percent of its total. Eight of China's top 10 trade      partners are APEC members, and China is the largest trading partner for 13 APEC economies.

       APEC economies are key investment partners for China. In 2022, investment from APEC economies made up 86.6 percent of China's total foreign investment. Five of China's top 10 sources of foreign investment are APEC members.

       The APEC region is also a major destination for Chinese outbound investment. In 2022, 73.3 percent of China's outbound investment went to APEC economies, with five of China's top 10 investment destinations being APEC members.

       Fifteen APEC economies are China's free trade partners, and the country prioritizes APEC in its free trade zone strategy to expand its free trade network and build a high-standard FTA network.

       For years, China has firmly supported the multilateral trading system and regional economic integration, and is committed to boosting trade and investment liberalization and facilitation in the region. It has proposed a number of cooperation initiatives that have brought tangible benefits to the region.

       Thanks to China's active efforts, the 2014 APEC Leaders' Meeting in Beijing approved the "Roadmap for Achieving the FTAPP," led by China. In the past decade, significant progress has been made in tariffs, non-tariff measures, services and investment, making the FTAPP a main channel for economic integration in the region.

       China's "Belt and Road" cooperation aligns with APEC's connectivity initiatives, promoting regional economic development.

       Luo Rong, director of the Institute of Foreign Economic Relations at the Macro-Economic Research Institute: China's door to the world keeps opening wider. Market - opening measures are being implemented, foreign investment utilization is improving, the business environment keeps getting better, and new vitality and growth drivers are provided for regional economic growth.

Source: CMG