"We will vigorously develop a circular and green economy"

Hu says China committed to peaceful development

China.org
November 13, 2010

China is firmly committed to the path of peaceful development, and strives for common development of all nations while pursuing its own development, Chinese President Hu Jintao said Saturday.

In a keynote speech delivered at the CEO summit of the Asia-Pacific Economic Cooperation (APEC), Hu said China will continue to pursue open economy and common and sustainable development as well as balanced growth of domestic and external demand.

China must adhere to the basic policy of opening-up, pursue a win-win strategy of opening-up and develop an open strategy to ensure sustained and fast economic growth, said the Chinese president.

"We will stay on the path of open development and further expand the breadth and depth of opening-up. We will deepen the level of opening-up in the coastal areas, accelerate opening-up in the inland areas and upgrade opening-up in the border areas," he said.

China will continue to bring in investment and talents from overseas, and continue to build an open and transparent legal environment, an enabling market environment for fair competition and a stable and orderly business environment to foster favorable investment conditions, he said.

China will continue to pursue common development. It is committed to promoting world development through its own development, actively engaged in international cooperation to meet global challenges and promote world economic growth, said Hu.

China will increase input and continue to provide assistance as its capacity permits to other developing countries, take part in international rule-making in a responsible way and work for a world economic structure that is more reasonable in the division of labor, more balanced in finance and trade, more rational in resources allocation and more equitable in interest-sharing, he said.

China will continue to pursue balanced growth of domestic and external demand, he said. "We will transform its economic development pattern and adjust the economic structure at a faster pace and make great effort to build a long-term mechanism that boosts domestic demand, particularly consumer demand."

To tap the potential of its domestic market, China will take such measures as promoting sustained increase in household income and spending, accelerating the development of the new countryside and implementing the overall strategy for regional development, he said.

What's more, China will continue to make good use of both domestic and international markets as well as domestic and international resources, continuing to steadily move forward the reform of currency exchange rate regime in a self-initiated, controllable and incremental manner, he added.

China will continue to pursue sustainable development, stick to the basic policy of resource conservation and environmental protection, he said.

China will better conserve and manage natural resources through improved legislation and standards, and make its industrial structure, growth pattern and consumption model more effective in saving energy and resources and protecting the environment.

"We will vigorously develop circular and green economy through economic restructuring and pursue economic development and eco-conservation in a balanced way, develop low-carbon, new energy and renewable energy technologies through scientific and technological innovation," he said.

China will work with the rest of the international community to counter climate challenges under the principles of common but differentiated responsibilities, said the Chinese president.

Hu also called on businessmen in the region to participate in China's reform and opening up process so as to share the fruits of China's prosperity.

With its huge market, better infrastructure,stronger industrial support capacity and fair market environment, China has attracted more and more investments from multinational companies and offered more and more opportunities to businesses in the Asia-Pacific region.

"A more developed China will bring even greater opportunities and make bigger contributions to the world, and China stands ready to work with all parties to shape an even better future for mankind," he said.

The APEC CEO summit, one of the most important sessions of the business community, is the symbol of APEC public and private cooperation with an aim of contributing to the development of the Asia-Pacific.