BEIJING - Broadcast: China pledged to improve protection of investment and trade operations in the country to promote comprehensive openness and advance global economic recovery. The pledge comes about two months after he announced his application for the Comprehensive and Advanced Agreement for the Trans-Pacific Partnership (CPTPP), and about a month and a half before the RCEP entered into force.

"China will treat all kinds of market entities on an equal footing and build an 'open single market system with regular competition'," Chinese President Xi Jinping said in his speech at the CEO Summit on Asia-Pacific Economic Cooperation, via video link on Thursday. Commitment to sustainable development and efforts to build an Asia-Pacific community with a shared future.

Explaining the recent measures taken by the Chinese authorities to improve the enforcement of anti-trust laws and strengthen regulations for some domestic industries, he said that these measures are necessary for the healthy development of China's market economy, adding that they are also common practices around the world.

“We will work tirelessly to strengthen and develop the public sector, as well as encourage, support and guide private sector development.”

"China will make continuous efforts to consolidate the foundation for the long-term development of the Chinese economy, better protect the Asia-Pacific region, and global companies to invest and start operations in the country," he added.

Founded in 1989, the Asia-Pacific Economic Cooperation (APEC) forum has become a powerful platform for facilitating economic cooperation among 21 economies in the Asia-Pacific region. The CEO Summit is part of the APEC Economic Leaders Week 2021, hosted by New Zealand and chaired by Prime Minister Jacinda Ardern.

During his speech, Xi called on economies in the region to "look forward and move forward", and "oppose discriminatory and exclusivist actions,"

"There will be no future to chart paths according to ideology, or to form small geopolitical circles," he added, "and the Asia-Pacific region cannot and should not return to the confrontational and divided state that prevailed during the Cold War era."

development and green transformation

Xi also spoke of the relationship between economic development and green transformation, calling for a coordinated and comprehensive approach to promoting green transformation and low carbon.

He added, "Without development, we cannot enhance sufficient economic forces to sustain the green transition, and in the absence of attention to the lives of individuals, there will be no social support for the green transition.

China pledges to introduce a series of measures to facilitate the overall green transformation of economic and social development during the period of the 14th Five-Year Plan (2021-2025) and beyond. The country pledged to increase carbon emissions to the highest level by 2030, and achieve carbon neutrality by 2060.

Meanwhile, the Chinese authorities have pledged to follow the philosophy of people-centred development. After getting rid of extreme poverty and achieving a historic victory in building a reasonably prosperous society in all aspects, the state will intensify its efforts to support high-quality development aimed at achieving common prosperity for all.

"We must thoroughly understand the concept of sustainable development, adhere to a people-centred approach, coordinate economic growth with people's livelihood, as well as conserve energy and reduce emissions," Xi said.

He also called for efforts to "promote green transformation in economic development and achieve greater development in green transformation."