Chinese Foreign Ministry spokesperson Wang Wenbin Photo: mfa.gov.cn

China, being a major participant of Asia-Pacific economy, will keep contributing to trade and investment cooperation in the region and it is ready to deepen collaboration with other countries in the region to boost the world economy, the Foreign Ministry (FM) said on Thursday. 

FM spokesperson Wang Wenbin made the remarks during a regular press briefing, in response to IMF's latest report stating that economic growth in Asian-Pacific to reach 4.6 percent this year, contributing two thirds of all global growth this year. The growth in China is set to contribute 64.2 percent of the growth in Asia, according to a report from Asian Development Bank. 

Asian-Pacific is home to one third of the world's total population, about 60 percent of world economy and nearly half of world trade, demonstrating the region is the source of global growth, said Wang. "In the past decade, Asian-Pacific cooperation won popular support and has made remarkable growth miracle in the region," he said. 

Since early 2023, market demands in Asian-Pacific region has rebounded, with industries of tourism, digital sector all making remarkable progress, which shows the resilience and vitality of the region, Wang stated, noting that regional economic driving force was further upgraded as the Regional Comprehensive Economic Partnership (RCEP) entered into full force in June, 2023. 

Wang said that Asian-Pacific region is home for China and other regional countries, and China is important participant of regional cooperation and economic integration, as well as major trade partner and vital section of the regional industrial chain. 

"China's economic recovery showed upbeat signs in 2023 and generated new opportunities for regional and global recovery. China is implementing the RCEP, accelerating the construction of China-ASEAN free trade zone 3.0, and ramping up effort to enter the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and Digital Economy Partnership Agreement," Wang said. 

China is ready to cooperate with other regional economic partners in the Asian-Pacific region, uphold genuine multilateralism, building the region a highland of cooperation and development, to further provide momentum to global recovery and sustainable development, Wang added. 

Global Times