On November 17, 2005, Chinese President Hu Jintao delivered an important speech at the Asia-Pacific Economic Cooperation (APEC) CEO Summit. Hu stressed that efforts should be made to build a harmonious world with an open mind, strengthen mutual trust and expand economic and trade exchanges, hold dialogue and consultations to properly address disputes, reinforce solidarity and collaboration, maintain security and stability and achieve win-win cooperation.

At about 4:30 p.m. local time, Hu arrived at Busan Lotte Hotel where the APEC CEO Summit was held. When he stepped into the conference hall, hundreds of participants all stood up and applauded warmly. Later Hu delivered a speech entitled An Open Mind for Win-Win Cooperation.

Hu first of all pointed out that since the late 1970s China has maintained a sustained and relatively fast economic growth with constant rise of comprehensive national strength and improvement of the living standards of 1.3 billion Chinese people. China's economic growth not only benefits the Chinese people but also generates greater investment opportunities and market for the rest of the world. China is becoming a major driving force behind the economic development in Asia and Pacific and the world at large.

Talking about energy, Hu said that to realize a balanced and orderly growth of world economy the international community must properly handle the energy issue. At present the most critical thing is for all countries to work together to maintain the stability of world energy market. China is ready to strengthen energy dialogue and cooperation with the rest of the world and jointly safeguard the security and stability of world energy.

Hu stressed that the issue of global trade imbalance should be addressed from a dialectic point view and taking world economic development into consideration. Mutual benefit and win-win results remain to be the mainstream of international trade. All countries should expand international trade on the basis of reciprocity and mutual benefit and achieve win-win results by complementing each other with their own advantages.

In recent years, China's foreign trade grows rapidly and at the same time countries in the world, especially the developed ones benefit a lot from China through investment and trade in services. China does not seek a big amount of foreign trade surplus and it is the huge domestic demand and vast domestic market that drive China's sustainable economic growth. China is willing to continue contributing to the consistent growth of global trade by changing its foreign trade growth pattern, expanding import and strengthening intellectual property rights protection.

Hu note that it is the common aspiration of people around the world to safeguard peace, promote development and seek cooperation. He raised four proposals on achieving win-win cooperation: first, building a harmonious world with an open mind. We should respect the right of all countries to independently choosing their own development road, promote greater exchanges and dialogue among civilizations in the spirit of democracy and equality, learn from each other's strong points to offset our weakness and join hands in building a harmonious world with long-lasting peace and common prosperity; second, building up mutual trust and expanding economic and trade exchanges. Trade and investment liberalization and facilitation should be vigorously promoted on the basis of mutual trust, restrictions on technology export be further reduced and trade barriers be removed so as to create a fair, just, rational and open trade environment; third, holding dialogue and consultations to properly solve disputes. On the basis of equality and mutual benefit, communications and consultations should be reinforced in the spirit of mutual understanding and accommodation and with a sincere and pragmatic attitude to solve difficulties and disputes. Great efforts should be made to promote the continuous development of international trade and economic cooperation to the benefit of people throughout the world; fourth, strengthening solidarity and collaboration and maintaining security and stability. People around the world should work together in good faith to meet all challenges and risks and bring about a stable security environment for common development and prosperity.

Prior to Hu's speech, Chey Tae-won, head of South Korea's SK Group, introduced that the people-oriented and scientific concept of development and the vision of harmonious social development raised by the Chinese leaders will surely help promote the sustainable growth of Chinese economy and enable China to play a bigger role in the international politics and global economy.

The APEC CEO Summit opened today is an important forum held during the APEC annual meeting. Hundreds of delegates from the business communities within Asia and Pacific attended this year's summit.

On the evening, Hu also met with Mayor of Busan Hur Nam-sik, staffs of the Chinese Consulate General in Busan and representatives of local Chinese-funded organizations, overseas Chinese and overseas Chinese students respectively.