Economic development in Asia still faces many challenges, says Chinese minister

BEIJING, May 27 (Reuters) – Economic and trade development in the Asia-Pacific region still faces many hurdles and challenges, China’s Commerce Minister Wang Wentao said.

Wang made the remarks at the Asia-Pacific Economic Cooperation (APEC) summit in Detroit, where he met with several leaders to exchange views on multilateral and bilateral economic and trade issues amid widening global trade divisions and uncertainties.

Wang said he was aware of the difficulties the region was facing, but said China, as a major developing country, was ready to make its due contribution.

„The Asia-Pacific region has always been an area of ​​the world economy with high growth potential, growth potential and economic resilience, but economic and trade development still faces many obstacles and challenges,” Wang said, according to China’s report. Ministry of Commerce.

Wang also discussed China’s positions on supporting the multilateral trading system and promoting sustainable and inclusive trade development.

„China calls on APEC economies to uphold open regionalism, steadily promote the process of regional economic integration, further deepen trade and investment cooperation, and share the opportunities and dividends that come from the integrated development of regional industrial chains and supply chains,” Wang said. said.

World leaders are looking for ways to strengthen global supply chains, which are still reeling in a post-Covid world.

China’s economy is struggling to regain a solid footing after its own three-year-old COVID-19 policies slowed growth. Sanctions were largely lifted in December and the government has stepped up a number of measures to stimulate economic expansion.

Wang urged APEC countries to carry out policy exchanges and coordination, promote industrial cooperation and infrastructure investment, assist less developed economies, and help small and medium enterprises share development opportunities.

READ  The renminbi hit a seven-month low against the dollar on economic worries

Report by Ella Cao and Bernard Orr; Editing by Kim Coghill

Our Standards: Thomson Reuters Trust Principles.

Dodaj komentarz

Twój adres e-mail nie zostanie opublikowany. Wymagane pola są oznaczone *