Hong Kong: China has called for stronger economic cooperation among the 21 member economies of the Asia Pacific Economic Cooperation (APEC) forum as global uncertainty, geopolitical tensions and rapid technological changes create challenges for regional growth.
Chinese Finance Minister Lan Fo'an made the appeal on Tuesday at the opening of the APEC Finance Ministers' Meeting in Hong Kong. He highlighted the importance of cooperation in supporting economic development and identified artificial intelligence, the digital economy and green development as areas that could create new opportunities for growth.
The meeting, scheduled for October 20 and 21, brings together finance ministers and officials to discuss economic policies and ways to strengthen cooperation across the Asia Pacific region.
Lan's remarks come as economies face concerns over trade policies, rising energy costs, inflation and uncertainty about the global economic outlook. His appeal reflects China's position that closer regional cooperation can help economies manage these challenges and identify new sources of growth.
However, the call does not represent a new agreement among APEC members. The discussions form part of the forum's wider efforts to promote regional economic cooperation, trade and investment.
APEC's latest economic outlook points to a gradual slowdown in regional growth. The organisation's Policy Support Unit forecast that the combined economies of the region would grow by 3.2 per cent in 2026, down from 3.3 per cent in 2025. Growth is expected to slow further to 3 per cent in 2027.
The outlook also projected regional inflation of 2.9 per cent in 2026, compared with 2.4 per cent in 2025. Higher energy costs, geopolitical tensions, uncertainty over trade policies and weather related disruptions were identified as risks to economic activity.
At the same time, technology related trade and investment have continued to support parts of the regional economy. This has increased interest in artificial intelligence, digital infrastructure and other technology based industries as potential drivers of future growth.
The finance ministers are discussing fiscal policies to support households, investment in human capital, financing for digital infrastructure, financial inclusion and cooperation among young financial professionals. These issues are important for governments seeking to maintain economic growth while ensuring that its benefits reach a wider section of the population.
China's own economic performance provides another important part of the regional picture. The Chinese economy grew by 4.5 per cent year on year in the third quarter of 2026, improving from growth of 4.3 per cent in the second quarter.
Despite the improvement, concerns remain over weak domestic demand and continuing pressure on the property sector. Strong exports have supported economic activity, but the uneven recovery highlights the difficulties facing policymakers as they seek to strengthen consumer spending and achieve more balanced growth.
China has also identified regional economic integration and cooperation on digital trade as important priorities for APEC. Earlier meetings this year addressed ways to improve trade cooperation, strengthen regional connectivity and advance discussions on the proposed Free Trade Area of the Asia Pacific.
The latest finance ministers' meeting is part of these wider efforts. APEC provides a platform for its members to discuss shared economic challenges, although their different national interests and political positions can make it difficult to reach common approaches.
Lan also referred to China's commitment to comprehensive economic reforms, although the reported remarks did not provide specific details about the measures involved.
The meeting's outcome will be important in determining whether the ministers can translate their discussions into practical steps. Any new commitments will need to be established through the official conclusions of the meeting.
As the talks continue, APEC faces the challenge of maintaining cooperation at a time when economies are dealing with slower growth, changing trade relationships and rapid technological development. China's appeal highlights the importance it places on regional engagement, but progress will depend on whether members can turn shared priorities into concrete action.