Taking the translated speech
transcript, the words economy,
growth, global, and development are
highlighted and the remainder sentences that didn't includes these words are
discarded. Since this was an economic speech, these highlighted words tended to
show up often. There was no mention of debt and tax,
which tends to be very prominent in US Presidential speeches. China is in a
massive growth development mode, full
steam ahead economy,
headed towards a conclusion of global
proportions. Here are the results:
WordItOut
10 Nov 2017, Da Nang, Vietnam
Xi Jinping, President of the
People's Republic of China
APEC CEO Summit
Our region, the Asia-Pacific,
has the biggest share of the global
economy; and it is a
major engine driving global
growth. The
business community is a primary contributor to growth, as it keeps exploring new ways of development. That's why
during the APEC Economic
Leaders' Meeting over the last several years, I have always taken time to meet
business leaders and discuss with you approaches and measures to address the
challenges we face.
It has been 10 years since
the international financial crisis broke out. Over the last decade, the
international community have worked in concert to steer the global economy back to the track of
recovery. Thanks to our efforts, the global economy
is improving. Despite risks and uncertainties, global trade and investment are picking up, people
are more optimistic about the outlook of financial markets, and confidence is growing in all sectors.
Development is a journey with no
end, but with one new departure point after another. An ancient Chinese
philosopher once observed, "We should focus our mind on the future, not
the past." We live in a fast changing world, and the global economy is undergoing more
profound changes. We must therefore closely follow the trend of the global economy, identify its
underlying dynamics, keep to the right direction, and, on that basis, take bold
action.
-- We are seeing a profound
change in growth
drivers. Countries are turning to reform and innovation to meet challenges and
achieve growth. The
potential of structural reforms is being unlocked and its positive impact of
boosting growth of
various countries has become more evident. A new round of technological and
industrial revolutions is gaining momentum. Digital economy and sharing economy have registered rapid growth. New industries as
well as new forms and models of business are flourishing. As a result, new growth drivers are being
created.
-- We are seeing a profound
change in the model of global
growth. As time
advances, development
has taken on profoundly richer implications. The vision of innovative,
coordinated, green and open development
for all is gaining increasing public support. To achieve more comprehensive,
higher quality and more sustainable development has become the shared goal of the international
community. To implement the 2030 Agenda for Sustainable Development and adapt to climate change
and other challenges of a global
nature has become an important international consensus.
-- We are seeing a profound
change in economic globalization. Over the last
few decades, economic globalization has contributed
greatly to global growth. Indeed, it has
become an irreversible historical trend. Against the backdrop of evolving global developments, economic globalization faces new
adjustments in both form and substance. In pursuing economic globalization, we should make it more open and
inclusive, more balanced, more equitable and beneficial to all.
-- We are seeing a profound
change in the system of global
economic governance.
The evolving global economic environment demands
more from the system of global
economic governance. We
should uphold multilateralism, pursue shared growth through consultation and collaboration,
forge closer partnerships, and build a community with a shared future for
mankind. This, I believe, is what we should do in conducting global economic governance in a new
era.
Faced with the profound
changes in the global economy, should we, the
Asia-Pacific economies,
lead reform and innovation, or just hesitate and proceed haltingly? Should we
steer economic globalization, or dither and
stall in the face of challenge? We must advance with the trend of times, live
up to our responsibility and work together to deliver a bright future of development and
prosperity for the Asia-Pacific.
First, we should continue to
foster an open economy
that benefits all. Openness brings progress, while self-seclusion leaves one
behind. We the Asia-Pacific economies
know this too well from our own development experience. We should put in place a regional
cooperation framework that ensures consultation among equals, wide
participation and shared benefits, build an open Asia-Pacific economy and promote trade and
investment liberalization and facilitation. We should make economic globalization more open,
inclusive and balanced so that it benefits different countries and people of
different social groups. We should proactively adapt to the evolving
international division of labor and actively reshape the global value chain so as to
upgrade our economies
and build up new strengths. We should support the multilateral trading regime
and practice open regionalism to make developing members benefit more from
international trade and investment.
We should continue to pursue
innovation-driven development
and create new drivers of growth.
The current global economic recovery is, to a
large extent, the result of cyclical factors, while the lack of self-generating
driving forces remains a nagging problem. To avoid the risk of the global economy entering a "new
mediocre", we must sustain growth through innovation.
The new round of
technological and industrial revolutions is unfolding before us. Digital economy and sharing economy are surging
worldwide, and breakthroughs have been made in new technologies such as
artificial intelligence and quantum science. We in the Asia-Pacific cannot
afford to be just onlookers. What we should do is to seize the opportunity,
increase input in innovation, change the model of development and nurture new growth areas. We should
promote structural reform, remove all institutional and systemic barriers to
innovation and energize the market. We should implement the APEC Accord on
Innovative Development,
Economic Reform and Growth adopted in
Beijing, deepen cooperation on the internet and digital economy and strive to be a global leader of innovative growth.
Third, we should continue to
enhance connectivity and achieve interconnected development. Interconnected development is the best
way to achieve mutual benefit and win-win outcome. We the Asia-Pacific economies are closely
connected, and our interests are interlocked. Such an interconnected development will both
open up new horizon for our own development, and create driving force for us all to achieve
common development
as partners. We should boost the real economy through the building of connectivity, break bottlenecks to
development and
unlock potentials. With these efforts, we can achieve coordinated and
interconnected development.
In May this year, the Belt
and Road Initiative calls for joint contribution and it has a clear focus,
which is to promote infrastructure construction and connectivity, strengthen
coordination on economic
policies, enhance complementarity of development strategies and boost interconnected development to achieve
common prosperity. This initiative is from China, but it belongs to the world.
We should continue to make economic development more
inclusive and deliver its benefits to our people. The current headwinds
confronting economic globalization is mostly
generated by the lack of inclusiveness in development. Hard work is still needed if we are
to bring the benefits of development
to countries across the globe and people across our society, and thus turn our
vision into reality.
Over the past few years, we
have actively explored ways to promote inclusive development and have built strong consensus about
it. We should deepen regional economic
integration, develop
an open and inclusive market and strengthen the bond of shared interests. We
should make inclusiveness and sharing a part of our development strategies, improve systems
and institutions to uphold efficiency and fairness, and safeguard social equity
and justice.
As an old Chinese saying
goes, a commitment, once made, should be delivered. Boosting development in the
Asia-Pacific requires real actions by all of us members. As the world's second
largest economy, China
knows fully well its responsibility. Over the past five years, we have taken
proactive steps to adapt to, manage and steer the new normal of China's economy and deepened
supply-side structural reform. As a result, China's economy has maintained steady performance, and
we are pursuing better-quality, more efficient, fairer and more sustainable development. Over the
past four years, China's economy
has grown by 7.2%
on the average annually, contributing over 30% of global growth. China is now a main driver powering global growth.
We have worked hard to remove
systematical institutional barriers that impede development through comprehensive reform. We have
sped up efforts to build new institutions of the open economy and transform models of foreign trade
and outbound investment to continue the shift from quantitative to qualitative
improvement in trade.
We have advanced theoretical,
practical, institutional, cultural and other explorations to unleash new
impetus for growth.
From infrastructure to various economic
sectors, from business models to ways of consumption, innovation is leading the
way.
We have pursued a
people-centered philosophy of development to make our development more inclusive and beneficial to all.
Individual income has registered sustained growth, outpacing GDP growth for many years. Significant advances
have been made in pursuing green development, resulting in considerable reduction in the
intensity of energy and resource consumption and marked improvement in the
ecological environment.
The poverty headcount ratio
has declined, and per capita rural income in poor areas has maintained
double-digit growth.
China's development is an
evolving historical process. Last month, the 19th National Congress of the
Communist Party of China was successfully convened in Beijing. Responding to
our people's desire for a better life, the Congress formulated a guide to
action and a development
blueprint for China in the new era.
It is envisaged that by 2020,
China will turn itself into a moderately prosperous society in all respects,
and by 2035, China will basically realize socialist modernization. By the
middle of this century, China will become a great modern socialist country that
is prosperous, strong, democratic, culturally-advanced, harmonious and
beautiful. Under the leadership of the Communist Party of China, the Chinese
people will embark on a new journey.
First, this is a new journey
of deepening reform across the board and unleashing dynamism for development. We will develop a set of
institutions that are well conceived, fully built, procedure based, and
efficiently functioning and achieve modernization of China's system and
capacity for governance.
This is a new journey of
moving with the times and exploring new model of development. China's economy is in a transition from a phase of
rapid growth to a
stage of high-quality development.
We will be guided by a new development
philosophy, put quality first, give priority to performance and develop a modernized economy. We will pursue
supply-side structural reform as our main task, work hard to achieve better
quality and higher efficiency performance, and create more robust growth through reform. We
will raise total factor productivity and accelerate the building of an
industrial system that promotes coordinated development of the real economy with technological innovation, modern
finance, and a talent pool. We will endeavor to develop an economy with more effective market mechanisms,
dynamic micro-entities, and sound macro-regulation. All these efforts will make
China's economy more
innovative and competitive. We will promote further integration of the
internet, big data, and artificial intelligence with the real economy, and cultivate new
drivers of growth
in digital economy,
sharing economy, clean
energy and other areas. We will continue to explore new mechanisms and pathways
for achieving coordinated development
among regions, promote coordinated development of the Beijing-Tianjin-Hebei region, Yangtze Economic Belt, Xiongan New
Area, and Guangdong-Hong Kong-Macao Greater Bay Area, build world-class city
clusters and foster new source of growth.
As China works hard to pursue
innovation and higher quality of growth, new forms of business will keep emerging, more
innovations will be used, and development of various regions in China will become more
balanced. All this will create a more powerful and extensive impact, present
more opportunities of cooperation and enable more countries to board the
express train of China's development.
Third, this is a new journey
toward greater integration with the world and an open economy of higher standards. China will not
slow its steps in opening up itself. We will work together with other countries
to create new drivers of common development through the launching of the Belt and Road
Initiative.
We will adopt policies to
promote high-standard liberalization and facilitation of trade and investment.
We will endeavor to establish a global network of free trade areas.
In the next 15 years, China
will have an even larger market and more comprehensive development.
We will ensure and improve
living standards through development
and meet people's ever-growing
needs for a better life.
No one will be left behind!
We will speed up
institutional reform for ecological conservation, pursue green, low-carbon and
sustainable development,
and implement the strictest possible system for environmental protection.
We are committed to peaceful development and we will
remain an anchor for peace and stability in the Asia-Pacific region and beyond.
China will, guided by the principle of upholding justice while pursuing shared
interests, actively develop
global partnerships,
expand the convergence of interests with other countries, and work to foster a
new type of international relations featuring mutual respect, fairness,
justice, and win-win cooperation. Acting on the principle of achieving shared growth through consultation
and collaboration, we will get actively involved in reforming and developing the global governance system to
make the international political and economic order more just and equitable.
