(Yicai Global) Oct. 23 -- Asia-Pacific countries should maintain a multilateral trading system based on free trade, Chinese representatives said at the recently-ended 24th Asia Pacific Economic Cooperation (APEC) Finance Ministers' Meeting.
The meeting took place in Hoi An, Vietnam from Oct. 19 to Oct. 21 local time. It focused on the global and regional economic and financial situation, long-term investment in infrastructure, financing and insurance for disasters, inclusive finance and other issues. APEC members pledged to use various policy tools to promote sustainable and balanced growth of the regional economy.
The world economy is currently exhibiting good momentum, but protectionism is on the rise. Given this, APEC member countries should enhance communication and coordination and adhere to multilateralism, Zhao Mingji, China's assistant minister of finance, said in a speech at the meeting.
Zhao also brought up China's recent macroeconomic progress and supply-side structural reforms, and welcomed APEC member nations to link their own development strategies with the Belt and Road Initiative to improve interconnectivity within the region.