(Shenzhen APEC) APEC enters "Shenzhen time" to inject certainty into Asia-Pacific economic and trade cooperation

China News Service, Beijing, November 13 (Reporter Yin Qianyun) The Asia-Pacific Economic Cooperation (APEC) "Year of China" will usher in an important moment. From November 18th to 19th, the 33rd APEC Leaders’ Informal Meeting will be held in Shenzhen.

Focusing on the theme of "Building an Asia-Pacific Community and Promoting Common Prosperity", China has established three priority areas of "openness, innovation and cooperation". Currently, world economic growth is facing many challenges, and all parties expect this "Asia-Pacific Treaty" to inject more certainty into regional economic and trade cooperation.

Open up and expand the space for economic and trade cooperation in the Asia-Pacific. Over the years, the Asia-Pacific region has continued to become more open, with average tariff levels falling from 17% to 5%. Economies in the region have gradually formed close economic and trade ties by lowering trade and investment barriers and strengthening market connectivity.

The 2014 APEC Beijing meeting launched the Asia-Pacific Free Trade Area process and outlined a long-term blueprint for regional economic integration. Since then, all parties have continued to carry out policy coordination and capacity building around this vision to promote regional integrated development.

The APEC Trade Ministers' Meeting held in May this year issued the "Suzhou Statement", agreeing to continue to actively promote the regional economic integration process and promote the Asia-Pacific Free Trade Area agenda.

Observations believe that the upcoming Shenzhen Conference is expected to build a consensus on opening up on this basis, further promote regional economic integration, promote trade and investment facilitation, and open up greater market space for Asia-Pacific companies.

Innovation to stimulate the vitality of Asia-Pacific economic growth. A new round of technological change is reshaping the global industrial landscape. Artificial intelligence and the digital economy are accelerating their integration into production and trade, becoming an important force in promoting the transformation and upgrading of the Asia-Pacific economy.

The International Monetary Fund (IMF)'s latest Asia-Pacific economic outlook report predicts that the Asia-Pacific region's economic growth will be 4.8% in 2026, higher than the 4.4% forecast in April this year. The report pointed out that strong demand for artificial intelligence-related technologies and the resilience of intra-Asia trade have supported economic growth in the Asia-Pacific region.

At the same time, service trade is becoming a new growth point for regional economic and trade cooperation. Data released by the APEC Policy Support Group (PSU) in 2025 show that APEC's commercial service imports and exports will both reach US$3.1 trillion in 2024, with regional service trade accounting for more than 35% of the world, ranking firmly among the world's largest services trade sectors.

The "APEC Roadmap for Innovative, Competitive and Resilient Services Industry" reached this year has drawn a blueprint for the open development of the Asia-Pacific service industry in the next ten years. As emerging fields continue to develop, this Shenzhen conference will also explore ways to cultivate new growth points for the Asia-Pacific economy.

Cooperate to build synergy for Asia-Pacific economic and trade development. As one of the most dynamic regions in the global economy, APEC members account for about 60% of the world's total economic output and nearly half of their trade volume.

Behind the huge economic volume is the increasingly close connection between various economies. The industries of Asia-Pacific economies are highly complementary and have formed an interdependent industrial chain and supply chain network for a long time. Different economies have their own advantages in resources, technology, manufacturing and markets, which promote the continuous extension of regional value chains.

The closer the industrial connection, the more effective cooperation mechanisms are needed. The analysis pointed out that APEC follows the principles of independence, voluntariness and consensus, while emphasizing flexibility, gradualism and openness, and has become a platform for solving the "greatest common denominator" and promoting pragmatic cooperation. (over)