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BEIJING: China’s Commerce Minister Wang Wentao said the economic and trade development of the Asia-Pacific region still faces many turmoil and challenges.

Wang made this comment at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and discussed multilateral and bilateral trade amid widening cracks and uncertainties in global trade. exchanged views on economic and trade issues between the two countries.

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

“The Asia-Pacific region has always been the region with the most growth vitality, development potential and economic resilience in the world economy, but economic and trade development still faces many disruptions,” Wang said in a statement from China. We are facing challenges,” he said. Department of Commerce.

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

“For APEC countries, China will continue to adhere to open regionalism, unswervingly promote the process of regional economic integration, further deepen trade and investment cooperation, and create opportunities through the integrated development of regional industrial and supply chains. We ask that you share the opportunities and dividends that will benefit you,” said Wang. He said.

World leaders have been looking for ways to strengthen the still volatile global supply chains in a post-COVID-19 world.

China’s economy is struggling to regain a solid footing after three years of its own restrictive COVID-19 policies stifled growth. Most of the curbs were removed in December, and the government stepped up some measures to encourage economic expansion.

Wang also called on APEC countries to conduct policy exchanges and coordination, promote industrial cooperation and infrastructure investment, support least developed countries, and help SMEs share development opportunities. .

https://www.channelnewsasia.com/business/economic-development-asia-still-faces-many-challenges-china-minister-says-3519601 China’s economic development still faces many challenges, says Chinese minister

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