Xi's APEC summit attendance, visit to Vietnam, Laos anticipated

President Xi Jinping will attend the 25th Asia-Pacific Economic Cooperation Economic Leaders’ Meeting in Da Nang, Vietnam, and pay a state visit to Vietnam and Laos from Nov. 10 to 14.

It will be Xi’s first foreign trip after his re-election as general secretary of the Central Committee of the Communist Party of China at the 19th CPC National Congress in Beijing last month.

China regards APEC as an important platform for the promotion of regional cooperation. Beijing hosted the APEC meeting three years ago, calling to boost growth through reform, new economies, innovation, inclusiveness, governance and urbanization.

The theme for the Da Nang APEC meeting is “Creating New Dynamism, Fostering a Shared Future”, building on the consensus reached in the Beijing APEC meeting. 

Experts say China’s stance in APEC is vitally important to drive the Asia-Pacific region’s development and opening-up.

China will import $8 trillion worth of goods, attract foreign investment of $600 billion, invest $750 billion overseas and export 700 million tourist trips in the next five years. It is believed that the Asia-Pacific will be the main beneficiary of China’s development dividend, and its endeavors to build a community of shared future for mankind.

China’s pro-globalization stance will also expedite the opening-up and the progress of regional integration, especially in trade, investment and cooperation, of the Asia-Pacific.

Xi met with the special envoys sent by Nguyen Phu Trong, general secretary of the Communist Party of Vietnam Central Committee, and Bounnhang Vorachit, general secretary of the Lao People's Revolutionary Party Central Committee, to congratulate Xi’s re-election and the success of the 19th CPC National Congress in Beijing on Oct. 30, showing China’s intention to strengthen ties with the two neighbors.

China-Vietnam trade hit a record high last year. China has been Vietnam’s largest trading partner for 12 consecutive years, and Vietnam is China’s largest trading partner in the Association of Southeast Asian Nations.

A 13.02-kilometer urban light rail in Hanoi, capital of Vietnam, constructed by China Railway Sixth Group, will come into operation next year. This is not only the first light rail built by Chinese enterprises in Vietnam, but also the first light rail in the country and is mainly funded by a $650 million loan from China.

The two sides have agreed to work together to synergize the Belt and Road Initiative with the Two Corridors and One Economic Circle plan.

Also, under the Belt and Road Initiative framework, China has a productive cooperation relationship with Laos. The China-Laos railway construction project, mainly funded and built by China, is expected to be finished in about five years.