China calls for deeper APEC cooperation to stabilize challenged global economy

China has highlighted the critical role of the Asia-Pacific Economic Cooperation (APEC) forum in steering the global economy through mounting geopolitical and financial headwinds.

Speaking at the opening of the APEC Finance Ministers' meeting in Hong Kong, Chinese Finance Minister Lan Foan emphasized that APEC must act as a vital engine for growth as the international market faces rapid changes and fallout from global conflicts.

Lan urged the 21 Pacific Rim member economies—including the United States, Japan, and Russia—to strengthen coordination to stabilize supply chains, preserve open trade, and foster regional economic integration.

The Asia-Pacific Economic Cooperation (APEC) forum has an increasingly important role in helping the world economy tackle the challenges it faces, China's Finance Minister Lan Foan said on Tuesday.

"APEC, as an engine of global economic growth, shoulders greater responsibility," Lan said in remarks at the opening of the APEC Finance Ministers' meeting in Hong Kong.

To combat current economic challenges, he stressed the need for deeper cooperation in emerging sectors such as artificial intelligence (AI), the digital economy, and green energy development.

The Chinese finance chief reaffirmed Beijing's dedication to implementing comprehensive economic reforms and maintaining high-standard openness to support both regional and global market stability.

China, the world's second-largest economy, would continue comprehensive economic reforms, he said, without elaborating.