President Xi Jinping delivers a keynote speech at the APEC CEO Dialogues via video link on Nov 19, 2020. (PHOTO/XINHUA)

BEIJING - Chinese President Xi Jinping said Thursday innovation has always been the primary driver of development to China, and the country will endeavor to build an innovation system that integrates science and technology, education, industries and the financial sector, and upgrade the industrial chains.

READ MORE: Bringing Chinese innovation to global stage

China will fully leverage the demand of its super-sized domestic market and the strengths of its complete industrial system and redouble efforts to turn research outcomes into real productivity, Xi said in his keynote speech delivered via video at the APEC CEO Dialogues. 

As the Asia-Pacific economies are connected by the same ocean, we benefit from close interactions between our peoples and geographic proximity.

Xi Jinping, Chinese President

Xi also called for working together to deliver a brighter future for all, both in the Asia-Pacific and across the world and expressed his hope that the Asia-Pacific business community will contribute their share to promoting openness and development, as well as explore innovation-driven growth.

The president voiced the hope that they will be partners for achieving win-win cooperation and actively fulfill their social responsibilities. 

He also stressed strengthening the awareness of building a community with a shared future.

FULL TEXT: President Xi's keynote speech at APEC CEO Dialogues

"Let us not forget that we are a community with a common stake, and let us move toward closer regional economic integration," Xi said. "We need to accelerate innovation-driven growth, enhance regional connectivity, and realize inclusive and sustainable development. Step by step, we can surely turn our vision into reality and deliver a better life for people in the region." 

A billboard promoting the Asia-Pacific Economic Cooperation (APEC) meeting is seen in Kuala Lumpur, Malaysia, on Nov 18, 2020. The APEC Economic Leaders' Meeting will be virtually held on Nov 20. (PHOTO/XINHUA)

Xi said that greater economic cooperation in the Asia-Pacific region will continue to display strong vitality.

"As the Asia-Pacific economies are connected by the same ocean, we benefit from close interactions between our peoples and geographic proximity," Xi said.

Further opening up 

China will not reverse course or run against the historical trend by "decoupling" or forming a small circle to keep others out, Xi said, adding that China will open its door still wider to the world.

READ MORE: Nation remains committed to reform, opening-up

Openness enables a country to move forward, while seclusion holds it back. 

Xi Jinping, Chinese President

"Openness enables a country to move forward, while seclusion holds it back," Xi said, noting China is already deeply integrated into the global economy and the international system. 

By fostering a new development paradigm, China is not pursuing a closed-door circulation, but open and mutually reinforcing domestic and international circulations, he said.  

He said China is committed to opening up, which is its fundamental policy and a policy that would not change at any time. He added that China has not stalled in its pursuit of opening-up amid mounting protectionism and unilateralism.

China has taken many policy steps to open the country still wider in face of more instability and uncertainty this year, Xi said. 

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The new development paradigm will enable China to open up wider, enable China to fully unlock its market potential and create greater demand for other countries, Xi said.

He said that China will take a more active part in the international division of labor, get more effectively integrated into global industrial, supply and value chains, and more enthusiastically expand exchanges and cooperation with other countries.

"We welcome cooperation with any region, country or company that wants to do so," he said.

On trade, Xi said despite the damage inflicted by COVID-19, China's import of goods has basically recovered to the level of last year.

China will further cut tariffs and government instituted transaction costs, and will continue to advance trade and investment liberalization and facilitation, and conclude high-standard free trade agreements with more countries, Xi said.

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