China's actions beneficial for global development

China is also set to host the Asia-Pacific Economic Cooperation Economic Leaders' Meeting in 2026, after receiving support and endorsement from other APEC economies in November.

China has hosted the APEC Economic Leaders' Meeting twice, in 2001 and 2014.

The Asia-Pacific region accounts for one-third of the world's population, more than 60 percent of the world's total economic output and nearly half of global trade.

This makes it the most dynamic region in the global economy, contributing 70 percent of the world's economic growth.

Liu Xianzhong, director of the Department of Russian History and Culture at the Institute of Russian, East European and Central Asian Studies at the Chinese Academy of Social Sciences, and a member of the 14th CPPCC National Committee, said the outlook for the Asia-Pacific is optimistic.

"In the context of the world economy's overall downturn, the economy of the Asia-Pacific region has maintained a good momentum of growth," he said

According to a report from the International Monetary Fund in November, the Asia-Pacific's economic growth rate was expected to reach 4.2 percent in 2024, much higher than the global growth rate of 2.9 percent.

As of November, China was the largest trade partner of 13 APEC economies, contributing 64.2 percent to Asia-Pacific economic growth, according to the Foreign Ministry.

"The momentum of economic growth in the Asia-Pacific region also adequately proves that: only through solidarity and collaboration can we overcome difficulties together, only through mutually beneficial cooperation can we develop together, and only through openness and sharing can we benefit the mankind," Liu said.

At the same time, this momentum "is also a response to unilateralism, protectionism and the increasing fragmentation of the world economy", he added.

President Xi Jinping put forward a slew of proposals at the 31st APEC Economic Leaders' Meeting in Lima, Peru, in November, such as making green innovation a catalyst for the Asia-Pacific.

Liu said, "This demonstrates China's sense of duty as a responsible major country in deepening Asia-Pacific cooperation, jointly addressing the challenges it faces and promoting common development in the face of various challenges to Asia-Pacific cooperation."

The Asia-Pacific region should earnestly shape the course of economic globalization, and it should not follow some nations' approach of seeking exclusive hegemony, he said.

It should push economic globalization to release more positive effects and enter a new stage that is more dynamic, more inclusive and more sustainable, he added.