Full text of Chinese President Xi's address at APEC CEO Summit

First, this is a new journey of deepening reform across the board and unleashing dynamism for development. To resolve difficulties and problems on the way forward, we must deepen all-round reform. We will focus more on solving problems, get rid of all outdated thinking and ideas and all institutional ailments and break through the blockades of vested interests to inspire creativity and vitality throughout society. We will develop a set of institutions that are well conceived, fully built, procedure based, and efficiently functioning and achieve modernization of China's system and capacity for governance. Next year, we will celebrate the 40th anniversary of China's launching of the reform and opening-up initiative. China's reform will cover more areas; and more and stronger steps will be taken in pursuing this endeavor.

Second, this is a new journey of moving with the times and exploring new model of development. China's economy is in a transition from a phase of rapid growth to a stage of high-quality development. We will be guided by a new development philosophy, put quality first, give priority to performance and develop a modernized economy. We will pursue supply-side structural reform as our main task, work hard to achieve better quality and higher efficiency performance, and create more robust growth through reform. We will raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and a talent pool. We will endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. All these efforts will make China's economy more innovative and competitive. We will promote further integration of the internet, big data, and artificial intelligence with the real economy, and cultivate new drivers of growth in digital economy, sharing economy, clean energy and other areas. We will continue to explore new mechanisms and pathways for achieving coordinated development among regions, promote coordinated development of the Beijing-Tianjin-Hebei region, Yangtze Economic Belt, Xiongan New Area, and Guangdong-Hong Kong-Macao Greater Bay Area, build world-class city clusters and foster new source of growth.

As China works hard to pursue innovation and higher quality of growth, new forms of business will keep emerging, more innovations will be used, and development of various regions in China will become more balanced. All this will create a more powerful and extensive impact, present more opportunities of cooperation and enable more countries to board the express train of China's development.

Third, this is a new journey toward greater integration with the world and an open economy of higher standards. China will not slow its steps in opening up itself. We will work together with other countries to create new drivers of common development through the launching of the Belt and Road Initiative. We will adopt policies to promote high-standard liberalization and facilitation of trade and investment. We will implement the system of pre-establishment national treatment plus a negative list across the board, significantly ease market access, further open the service sector, and protect the legitimate rights and interests of foreign investors. All businesses registered in China will be treated as equals. We will grant more powers to pilot free trade zones to conduct reform, and explore the opening of free trade ports. We will speed up negotiations with partner countries on the concluding of free trade agreements and investment treaties, advance the building of FTAAP, work for the speedy conclusion of RCEP negotiations, and endeavor to establish a global network of free trade areas.

In the next 15 years, China will have an even larger market and more comprehensive development. It is estimated that China will import US$24 trillion worth of goods, attract US$2 trillion inbound direct investment and make US$2 trillion of outbound investment. In November next year, China will hold the first China International Import Expo in Shanghai, which will provide a new platform for expanding cooperation in China's market among all parties.

Fourth, this is a new journey toward a better life for the people. To secure a better life for our people is what we aim to achieve in everything we do. We will ensure and improve living standards through development and meet people's ever-growing needs for a better life. We will continue to promote social fairness and justice to see that our people will always have a strong sense of gains, happiness, and security. We will continue to implement targeted poverty reduction and alleviation measures and ensure that by the year 2020, all rural residents living below the current poverty line are lifted out of poverty. Each and every one of the over 1.3 billion Chinese people should lead decent lives. No one will be left behind!

We will speed up institutional reform for ecological conservation, pursue green, low-carbon and sustainable development, and implement the strictest possible system for environmental protection. By 2035, there will be a fundamental improvement in the environment; the goal of building a Beautiful China will be basically attained. We will actively tackle climate change, and protect our common home for the sake of human survival. China's carbon dioxide emission is expected to peak around 2030, and we will make every effort for such emissions to reach the peak ahead of time. We will increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030. Once we set a target, we will not stop our efforts until it is met!

Fifth, this is a new journey toward a new type of international relations and a community with a shared future for mankind. The dream of us Chinese is closely connected with the dreams of people of other countries. Our world is full of challenges and the road ahead will not be smooth. But we will not give up on our dream. We will double our efforts and work with all others to build an open, inclusive, clean, and beautiful world that enjoys durable peace, universal security, and common prosperity.

We Chinese believe that peace is most precious and that there should be harmony among all nations. We are committed to peaceful development and we will remain an anchor for peace and stability in the Asia-Pacific region and beyond. China will, guided by the principle of upholding justice while pursuing shared interests, actively develop global partnerships, expand the convergence of interests with other countries, and work to foster a new type of international relations featuring mutual respect, fairness, justice, and win-win cooperation. Acting on the principle of achieving shared growth through consultation and collaboration, we will get actively involved in reforming and developing the global governance system to make the international political and economic order more just and equitable.

Ladies and Gentlemen,

Dear Friends,

All of our people in the Asia-Pacific deserve peace, stability and prosperity; and all of us in the region should jointly deliver a bright future for the Asia-Pacific. Partnerships based on mutual trust, inclusiveness, cooperation and mutual benefit: This is what keeps our big Asia-Pacific family together and ensures the success of Asia-Pacific cooperation. Let us take solid steps to promote cooperation and usher in an even brighter future for the Asia-Pacific.

Thank you.