Jakarta: Chinese President Xi Jinping on Thursday attended the Asia-Pacific Economic Cooperation (APEC) CEO Dialogues in Beijing via video link.
In his keynote speech, Xi said that China will implement a new development paradigm to fully unlock its market potential and create greater demand for other countries.
Xi explained that China will expand domestic demand as a strategic priority and ensure smooth flow of economic activity.
He also added that China will vigorously make scientific and technological innovations to foster new growth drivers.
"Third, we will continue to deepen reform and energize the market," Xi said.
According to Xi, by fostering a new development paradigm, China is not pursuing a closed-door circulation, but open and mutually reinforcing domestic and international circulations.
"The new development paradigm will enable China to fully unlock its market potential and create greater demand for other countries," Xi said.
China’s per capita GDP has topped US$10,000, and its middle-income population has exceeded 400 million.
In addition, it is projected by many international institutions that China’s retail market will reach six trillion dollars in size this year.
Despite the damage inflicted by covid-19, China’s import of goods has basically recovered to the level of last year
"As China’s economy grows, our people naturally want to lead an even better life. This will create more demand for a greater variety of quality products, technologies and services from across the world," Xi said.