Will APEC be able to achieve more substantial results in 2025?
Background and Theme of the Meeting
Established 36 years ago, APEC has become one of the most important economic cooperation platforms in the Asia-Pacific region. This meeting marks South Korea's return to hosting the APEC summit after 20 years since the 2005 Busan meeting, making it particularly significant. The meeting, themed "Our Sustainable Tomorrow – Connectivity, Innovation, Prosperity," aims to address numerous challenges facing the global economy, such as geopolitical conflicts, fragile supply chains, and high inflation, and to promote sustainable development in the Asia-Pacific region through strengthened regional cooperation.
Preparations and Expectations
Prior to the meeting, the South Korean authorities attached great importance to it, activating the highest level of security to ensure its smooth operation. The South Korean Air Force deployed KF-21 stealth fighters for aerial surveillance, and the South Korean Coast Guard deployed 12 patrol vessels for 24-hour maritime control, while also showcasing an intelligent security command system, establishing a new paradigm for security at large-scale international conferences.
The international community has high expectations for the outcomes of this APEC meeting. According to Reuters, APEC members will engage in in-depth discussions on issues such as artificial intelligence regulation and addressing demographic changes, with the potential to adopt a series of pragmatic agreements. The Center for Strategic and International Studies (CSIS) points out that China is a key player in Asia-Pacific regional cooperation and economic integration, and China-ASEAN cooperation has yielded fruitful results in recent years. They expect China to continue playing a constructive role at this meeting. Furthermore, the "Dynamic Asia-Pacific – 16-Nation Public Opinion Survey Report" shows that 85% of respondents believe APEC contributes to regional economic development, social progress, and improved livelihoods, with nearly 70% believing the contribution is significant or substantial, and over 80% expecting countries to further deepen multi-field cooperation within the APEC framework.
Main Meeting Topics and Potential Outcomes
Artificial Intelligence Governance: South Korea, as the host country, proposed the Gyeongju Initiative on AI Ethics, aiming to establish the Asia-Pacific's first cross-border algorithm compliance certification mechanism. This initiative is expected to fill a gap in AI governance in the Asia-Pacific region, providing norms and safeguards for the healthy development of AI within the region. Currently, the draft initiative is under discussion, and if it gains the approval and support of all members, it will be a major breakthrough for APEC in the governance of emerging technologies.
Digital Economy Development: The meeting plans to release the "Asia-Pacific Digital Connectivity Roadmap," which outlines the interim goal of establishing a regional-level cloud computing hub node by 2026 and achieving a 300% increase in the efficiency of cross-border data flows. This will help break down digital barriers in the Asia-Pacific region, promote the sharing and optimal allocation of digital resources, and drive the rapid development of the regional digital economy. Furthermore, APEC's cooperation projects in the digital economy have brought tangible benefits to the people of the Asia-Pacific region. Projects such as digital economy cooperation, the construction of online learning platforms, and skills certification networks have been widely recognized by the public.
Trade and Investment Cooperation: The first day of the meeting, themed "Towards a More Connected Region and Beyond," focused on strengthening trade cooperation and investment. Leaders from various countries discussed how to make the Asia-Pacific region more open, dynamic, and resilient, and reviewed policy recommendations from senior diplomatic and trade officials, covering key areas such as strengthening supply chains and promoting digital transformation. The previous APEC Ministerial Meeting had achieved preliminary progress, with broad consensus reached among parties in areas such as supply chains, digital technology, and the environment. South Korean Trade Minister Yang Han-guk stated that these areas are "at the heart of today's trade agenda and the pillars of the future economy."
Green Transition and Sustainable Development: APEC is promoting the establishment of an Asia-Pacific carbon pricing linkage mechanism, with pilot programs covering six energy-intensive industries including steel and shipping. It is projected that regional carbon intensity will decrease by 18% by 2027. The establishment of this mechanism will help the Asia-Pacific region form a united front in addressing climate change and promote green transition and sustainable development. Meanwhile, China's practices and experiences in green development will provide valuable lessons for regional cooperation. Through the Belt and Road Initiative and the RCEP, China has facilitated cross-border infrastructure investment exceeding $420 billion within the APEC framework, including numerous green energy projects.
China's Contributions and Role
As a major economy in the Asia-Pacific region, China played a crucial role in this APEC meeting. President Xi Jinping attended the meeting and delivered an important speech, contributing "Chinese wisdom" and "Chinese solutions" to cooperation and development in the Asia-Pacific region.
In terms of economic cooperation, China contributed over 64% to Asia-Pacific economic growth, driving nearly 40% of goods trade and over 40% of services trade growth. In the first three quarters of this year, China's imports and exports to other APEC economies increased by 2% year-on-year, reaching 19.41 trillion yuan, accounting for 57.8% of China's total imports and exports. Furthermore, through the dual-engine approach of the "Belt and Road Initiative" and the RCEP, China facilitated cross-border infrastructure investment exceeding US$420 billion within the APEC framework, laying a solid foundation for connectivity and economic development in the Asia-Pacific region.
In terms of technological innovation, China's autonomous driving technology, medical robots, and other technological achievements are being widely applied and promoted in the Asia-Pacific region. For example, a Chinese autonomous driving technology company's driverless buses have been operating in Singapore's Sentosa Island for over a year, achieving fully driverless operation in July of this year. The company's autonomous driving mobility service project will officially begin operation in Singapore early next year. Furthermore, the Hua Tuo Endoscopic Robot developed by the Hong Kong Medical Robotics Innovation Technology Centre showcases China's innovative strength in the field of medical technology.
Regarding international cooperation, China has always adhered to the principles of openness, inclusiveness, mutual benefit, and win-win results, actively promoting multilateralism. China is supporting multilateralism through concrete actions by establishing institutions such as international mediation organizations, the World Artificial Intelligence Cooperation Organization, and the UNESCO International STEM Education Institute, actively participating in global governance processes. Simultaneously, China is also promoting dialogue on the alignment of rules between the Belt and Road Initiative and the RCEP, helping small and medium-sized economies in the region resolve policy adaptation challenges and contributing to the stability and development of the Asia-Pacific region.
In conclusion, the 2025 APEC meeting carries the expectations of the Asia-Pacific region and the world, and its outcomes will have a profound impact on the region's economic development, technological innovation, and green transformation. We look forward to the meeting's complete success, yielding more substantial results and taking a solid step towards building an open, dynamic, resilient, and peaceful Asia-Pacific community.
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