The 20th informal meeting of Asia-Pacific Economic Cooperation economic leaders wrapped up on Sunday in Vladivostok.
Although US President Barack Obama did not take time away from his busy election campaign to attend the event this year and Australian Prime Minister Julia Eileen Gillard returned home before it was all finished, the "big family" gathering attracted a lot of attention from the international community.
The event brought notice not only to APEC's development, which has been going on for 20 years, but also Russia's ambition to develop its Far East region.
The meeting also gave China an opportunity to put forward a series of proposals and ideas related to the event's theme: "Integrate to Grow, Innovate to Prosper".
President Hu Jintao, in a keynote speech at the APEC CEO summit, placed emphasis on the need to improve infrastructure construction and promote stable growth and economic recovery. China has worked to establish fair, transparent and efficient administrative, legal and market systems.
As a responsible rising power, China has promised to maintain economic stability and strong economic growth by stimulating domestic demand and rebalancing its domestic economy to help the global economy recover. At the same time, China is committed to quickly putting into effect its free-trade plans, strengthening its economic ties with its chief trade partners and cooperating more in a pragmatic way with other emerging and developing economies. This suggests that China has tied its economic development to regional and global economic stability and prosperity.
China's views on regional cooperation were fully demonstrated during the APEC meeting. The country intends to maintain its commitment to open regionalism, to respect the reality of the coexistence of multiple mechanisms in the Asia-Pacific region and to advocate for ensuring that the various mechanisms have the maximum amount of compatibility and collaboration.
To promote regional cooperation, China also plans to organize more exchanges with the Greater Mekong Subregion; the Greater Tumen Initiative; the Association of Southeast Asian Nations; ASEAN plus China, Japan and the Republic of Korea; the Shanghai Cooperation Organization and other regional mechanisms.
China has also emphasized the need to promote economic development and improve people's livelihoods, and put a priority on social construction projects that concern people's most direct and practical interests.
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