Xi says investing in China means investing in future

President Xi Jinping described China on Friday as an "ideal, safe and promising" destination for global investors, saying in a written speech delivered at the Asia-Pacific Economic Cooperation CEO Summit that investing in the world's second-largest economy is tantamount to investing in the future.

"Partnering with China means embracing opportunities. Believing in China means being optimistic about tomorrow," Xi said in remarks conveyed to representatives of the business community who gathered in Gyeongju, the Republic of Korea.

The four-day summit, which concluded on Friday, drew corporate executives, economists and policymakers from across the region under the theme "Bridge, Business, Beyond".

Xi highlighted China's resilience and long-term prospects, noting that the economy expanded about 5.5 percent annually over the past five years and contributed roughly 30 percent to global growth. The world's second-largest economy grew by 5.2 percent year-on-year in the first three quarters of this year, laying a solid foundation for achieving the country's full-year growth target.

"The China market is huge and promising. We are continually advancing high-standard opening-up, and strive to help all sides succeed through greater openness and connectivity," he added.

China's negative list for foreign investment has been cut to 29 items, with all restrictions in manufacturing removed, Xi said.

He pledged further opening of the services sector and said foreign professionals would find it increasingly convenient to invest, work and live in China.

He also described China as a growing hub for innovation, pointing to rapid progress in artificial intelligence, quantum technologies, humanoid robotics, new energy vehicles and biomedicine. "China is going green, digital and smart at a faster pace," Xi said.

Beijing, he added, remains committed to its carbon peaking and neutrality goals, and will continue to create conditions for green growth worldwide.

Xi used his address to push back against hegemonism, unilateralism and protectionism, warning that such tendencies threaten global stability and development.

"While hegemonism causes only war and disaster, fairness and justice ensure global peace and development. While confrontation and antagonism breed only estrangement and turbulence, win-win cooperation proves to be the right way forward," he said.

"While unilateralism precipitates division and regression, multilateralism is the viable option for tackling global challenges."

The Chinese president reaffirmed that Beijing always upholds the current international order and practices true multilateralism.

"We embrace peaceful development, and reject the assertion that a strong country will inevitably seek hegemony," he said, adding that China champions win-win cooperation and denounces winner-takes-all practices.

Xi urged APEC, which in 2024 represented 61 percent of global GDP and 46 percent of world trade in goods and services, to take the lead in safeguarding peace and stability, enhancing openness and connectivity, promoting win-win cooperation and pursuing benefits for all and inclusiveness.

"We must have the courage to remove barriers, keep global industrial and supply chains stable and unimpeded, advance regional economic integration, push forward the Free Trade Area of the Asia-Pacific, and play the Asia-Pacific part in global economic growth," he said.

xuwei@chinadaily.com.cn