China for many years has proposed to establish a comprehensive and inclusive free trade zone known as the Free Trade Areaof the Asia Pacific, or FTAAP, at the APEC meetings.China and South Korea have concluded negotiations on abilateral free trade agreement in Beijing. Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye confirmed the news in a meeting Monday, on the sidelines of the ongoing APEC meetings.Chinese President Xi Jinping has held a meeting with Japanese Prime Minister Shinzo Abe at the Great Hall of the People
- China needs to be at the top of the global value chain: expert
BEIJING, November 11 (People’s Daily Online) – To better adapt to interconnectivity of Asia-Pacific area, China needs to step forward to higher level in global value chains, an expert with APEC said after a high level forum.
The 2014 Beijing APEC meetings focus on interconnectivity in Asia-Pacific region, infrastructure and Free Trade Area of Asia-Pacific. According to Zhang Lijun, Director of China APEC Development Council, it is of high importance for China to have a clear conception about its role in value chains and supply chains.
To promote interconnectivity in the region is to connect Chinese economy with that of the world. “If not cooperate with supply chains, China may not have a clear mind of its economic role in the market,” said Zhang.
China has long been regarded as the workshop of the world. However, China is shifting its focus to knowledge-intensive industries as well as protection of intellectual property by changing the mode of growth. Only in this way can China realize its updated version of economy, Zhang said.
Besides, according to Zhang, the establishment of Asian Infrastructure Investment Bank (AIIB) is beneficial to advanced Chinese enterprises to seek fortune abroad. Zhang mentioned that China would play a major role in AIIB. Therefore, Chinese preeminence and voice in cooperation will be valued and guaranteed.
In view of the declining export, investment in foreign infrastructure provides good opportunity for China to make up losses from export, Zhang said.
it with new meaning for the present era and actively developing economic …
Some believe China will act on its own will as it becomes more powerful, but this is hardly true as China is experiencing a tough path toward revival.
Chinese State Councilor Yang Jiechi met with Japan’s visiting National Security Advisor Shotaro Yachi on Friday and reached a four-point consensus on improving China-Japan relations.