Work Together to Shape the Future
Speech by H.E. Hu Jintao
President of the People's Republic of China
At the APEC CEO Summit
Hawaii, 12 November 2011
Mr. Craig Mundie, Chairman of the APEC 2011 USA Host Committee,
Ladies and Gentlemen,
I am delighted to join you, leaders of the Asia-Pacific business community, in the beautiful state of Hawaii and exchange views with you under the theme of "The Future. Redefined".
The current world economic situation deserves our high attention. Some major economies are experiencing economic slowdown, and some countries are facing acute sovereign debt problems. Volatility in the international financial markets persists. Rising inflationary pressure confronts emerging markets. Protectionism in various forms is on the notable increase. Global economic recovery is fraught with greater instability and uncertainty. New changes are underway in global economic governance, but such changes have not kept up with the evolution of the global economic landscape. Fresh progress has been made in adjusting the world economic structure, but more needs to be done to meet the urgent need to shift the economic growth model. New breakthroughs have been achieved in scientific and technological innovation, but they have not been turned into new and powerful growth drivers.
The theme of this summit - "The Future. Redefined", is particularly relevant. It will help us gain a deep understanding of new regional and global developments, identify the trend of the global economy and regional cooperation in the time to come and seek solutions to issues of concern to the business community.
Under the current circumstances, we must be firmly committed to maintaining growth and promoting stability, with a special emphasis on ensuring strong growth in order to add momentum to the economic development in the Asia Pacific and beyond. With this in mind, I wish to share with you the following observations.
First, we need to improve the mechanism for global economic governance and build an equal and more balanced global partnership for development. The emerging markets and developing countries are carrying greater weight in the global economy and playing a bigger role in global economic governance. The new mechanism for global economic governance should reflect the changes in the world economic landscape. It should observe the principle of mutual respect and collective decision-making and increase the representation and voice of emerging markets and developing countries. It is important to promote better understanding and coordination between developed and developing countries. Developed countries should fulfill their responsibilities and obligations in international economic governance and take more concrete actions on the issue of development. Emerging markets and developing countries should shoulder international responsibilities as their capability permits and in keeping with their particular national conditions and stages of development. All of us should make concerted efforts to achieve balanced, inclusive, sustainable, innovative and secure growth of the world economy.
Second, we need to implement the APEC Leaders' Growth Strategy and achieve green and innovative growth. The strategy adopted last year in Yokohama, with green and innovative growth as core elements, charts the course for the growth of the Asia-Pacific economy in the years ahead. We should actively promote the idea of green development and respect the choice independently made by APEC members to pursue green growth on the basis of their resource endowment, stage of development and capacity. We should enhance dissemination of and cooperation on environmental technology, help developing APEC members build environmental industries, avoid new green trade barriers and strive for simultaneous progress in environmental protection, trade and development. We need to step up international cooperation on technological innovation and help APEC members build innovation capacity, pursue technological innovation and industrial upgrading, and promote industrial application of scientific and technological achievements. We should make innovation the main driver of growth and let the people of all countries enjoy greater benefits from innovation.