Openness and integrated development key to Asia-Pacific miracle

Openness and integrated development are the key to the Asia-Pacific miracle and the only path for regional countries to meet challenges and create a shared future, Foreign Ministry spokesman Guo Jiakun said on Wednesday.

Guo made the remarks as international institutions, including the International Monetary Fund, warned that although the Asia-Pacific remains the world's fastest-growing region, rising tariffs and protectionism could exacerbate economic vulnerabilities.

Guo highlighted at a regular news briefing that the Asia-Pacific is the most dynamic and energetic part of the global economy and has been at the forefront of regional cooperation and economic integration.

According to the IMF's latest report, the Asia-Pacific economy is projected to grow by 4.5 percent this year, continuing to lead global growth.

China and the Association of Southeast Asian Nations have been each other's largest trading partners for five consecutive years.

The signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol marks a major achievement in deepening bilateral economic ties, Guo said, adding that it will inject more confidence and momentum into the economic growth of both the Asia-Pacific and the world.

Guo said that China is actively aligning with high-standard international economic and trade rules and advancing the upgrading of existing free trade agreements.

China will continue to promote regional economic integration through its high-level opening-up, Guo said, and work toward building an Asia-Pacific community of shared future, one of openness, inclusiveness, innovation-driven growth, greater connectivity, and mutually beneficial cooperation.