Tashkent, Uzbekistan (UzDaily.com) -- On 19 November, in Beijing, President of the People’s Republic of China Xi Jinping took part in a video conference between leaders of industrial and trade circles in the framework of the Asia-Pacific Economic Cooperation (APEC). At this event, he released a keynote speech on the topic "Formation of a new development structure and the implementation of mutual benefit and win-win".

In his speech, Xi Jinping noted that the outbreak of the COVID-19 epidemic once again proved the fact that the fate of humanity is one, the interests of all countries are closely linked, and peace is an indivisible community of destinies. In this regard, different countries of the world should provide each other with support and assistance, unite common efforts, develop a partnership spirit, maintain close contacts and coordination, comprehensively deepen international cooperation in countering the epidemic, insist on the formation of an open world economy in order to win as soon as possible. over the epidemic and realize the growth of the world economy, characterized by dynamics, sustainable development, balance and tolerance.

Xi Jinping stressed that the foundations for the stable development of the Chinese economy in the long term remain unchanged. China will seize the opportunities of the new stage of development, adhere to the new development concept, create a new development structure.

First, China is prepared to see expanding domestic demand as a strategic priority and to ensure the smooth running of economic activity, and will continue to deepen supply-side structural reforms to create a higher level of dynamic balance in which demand determines supply and supply creates demand.

Second, China will actively promote scientific and technological innovation to cultivate new drivers of economic development. China is committed to building an innovation system that can integrate science and technology, education, industry and the financial sector, and modernize industrial chains.

Third, China will continue to deepen reforms and stimulate market vitality. China will take more action and with greater determination to remove deep-rooted systemic and institutional barriers to advance the modernization of its governance system and capacity.

Xi Jinping also indicated that China will further reduce tax rates and government-set transaction costs.

Xi Jinping stressed that the world economy and international system has long been integrated with the national one. China’s new development model is not a closed internal cycle, but an open internal and international double cycle, double circulation.

In accordance with the new development model, China will further open its doors to the outside world, ready to exchange development opportunities with other countries of the world; China will continue to deepen its cooperation to achieve mutual benefits and results with other countries in the world.

Xi Jinping stressed that the Asia-Pacific region is our common home. “Last year, I proposed building an open, inclusive and innovative Asia-Pacific community with a shared destiny that connects with each other and engages in mutually beneficial collaboration. We must continue to promote regional economic integration and make our vision a reality for the benefit of the peoples of the Asia-Pacific region,” said Xi Jinping.

In conclusion, Xi Jinping stressed that the epidemic will eventually go away and victory will come. “Let’s join hands, help each other, maintain open collaboration, drive internal and external trade cycles, and jointly create a better future for Asia Pacific and the world!”

Xi Jinping stressed that the world economy and international system has long been integrated with the national one. China’s new development model is not a closed internal cycle, but an open internal and international double cycle, double circulation.

In accordance with the new development model, China will further open its doors to the outside world, ready to exchange development opportunities with other countries of the world; China will continue to deepen its cooperation to achieve mutual benefits and results with other countries in the world.

Xi Jinping stressed that the Asia-Pacific region is our common home. “Last year, I proposed building an open, inclusive and innovative Asia-Pacific community with a shared destiny that connects with each other and engages in mutually beneficial collaboration. We must continue to promote regional economic integration and make our vision a reality for the benefit of the peoples of the Asia-Pacific region,” said Xi Jinping.

In conclusion, Xi Jinping stressed that the epidemic will eventually go away and victory will come. “Let’s join hands, help each other, maintain open collaboration, drive internal and external trade cycles, and jointly create a better future for Asia Pacific and the world!”