Busan: China will open its door wider and create new opportunities for the Asia-Pacific and the world at large. Amid rising protectionism, Xi Jinping told the APEC audience that China consistently pursues the basic state policy of opening up and has taken concrete steps to promote an open world economy.
According to Nam News Network, the Chinese president emphasized China's zero-tariff treatment on 100 percent tariff lines from the least developed countries having diplomatic relations with China, and pledged to extend the same treatment to all African countries maintaining such ties. Xi's visit to South Korea marks his first overseas trip after presiding over the fourth plenary session of the 20th Communist Party of China Central Committee, which adopted a landmark document - the Recommendations for Formulating the 15th Five-Year Plan - mapping out China's development path through 2030.
Reform and innovation are central features of the plan, with new initiatives aimed at strengthening indigenous innovation and launching an AI Plus initiative to empower industries, which are expected to shape China's next stage of growth. In a written speech to the APEC CEO Summit, Xi highlighted China's five-year plan, stating that China can provide the global business community with more growth opportunities, a favorable business environment, a vast platform for innovation, and conditions for green growth. "Investing in China means investing in the future," Xi wrote.
Over the past five years, China has ranked as the world's largest trader in goods and the second largest in services. It has attracted more than 700 billion U.S. dollars in total foreign investment, with its outbound investment increasing by an average of over five percent annually. Former Slovenian President, Danilo Turk, remarked that the long-term vision embedded in China's five-year plan brings stability to both China's development and the world economy. He noted that new and green technologies are becoming central to China's development concept, which has a global impact.
China's new energy vehicle output surged 35.2 percent year-on-year, reaching more than 11.24 million units in the first nine months of 2025, while sales rose 34.9 percent to 11.23 million units, according to data from the China Association of Automobile Manufacturers. Lee Hee-sup, secretary-general of the Trilateral Cooperation Secretariat, has observed China's hi-tech and green transformation firsthand, noting the country's focus on digitalization, artificial intelligence, green industries, and scientific innovation under President Xi's leadership.
Xi's APEC speech marked his first public remarks following a meeting with U.S. President Donald Trump in Busan, South Korea, where he shared his insights on the success of China's development strategy. Xi emphasized that China's focus has always been on managing its own affairs, improving itself, and sharing development opportunities globally, with no intention to challenge or supplant anyone.
In his APEC speech, Xi proposed a five-point plan to promote universally beneficial and inclusive economic globalization and to build an Asia-Pacific community. He also voiced support for multilateralism and emphasized the need for stable supply chains. Lawrence Loh, a professor at the National University of Singapore, stated that President Xi's speech outlined critical underpinnings for economic progress in the Asia-Pacific region, highlighting the importance of multilateral and open economic systems.
South Korean President Lee Jae-myung, who chaired the meeting, called for greater cooperation and solidarity in the region to overcome new challenges at this pivotal moment in global history. Julia Roknifard, a senior lecturer at Taylors University, noted that APEC has positioned the region at the forefront of global open development, establishing the Asia-Pacific as the most dynamic region in the world economy.