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Highlights: Hallmarks of APEC Beijing meetings A-Z

(Xinhua)    10:58, November 13, 2014
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BEIJING, Nov. 12 (Xinhua) -- The Asia-Pacific Economic Cooperation (APEC) meetings, which concluded Tuesday, are set to engrave a number of hallmarks in the history of APEC, the host country China and the Asia-Pacific as a whole.

Xinhua compiled a list of 26 key words that highlight the fruits borne by the historic meetings.

A

Anti-corruption declaration

APEC members have decided to adopt the Beijing Declaration on Fighting Corruption and set up a cross-border law enforcement network to strengthen transnational anti-corruption cooperation. They committed to working together against rampant corruption and deny safe haven for corrupt officials and their illicit assets in this region.

B

Blue

"APEC blue" is a popular phrase coined by China's netizens to describe the blue sky in the heavily-polluted Beijing during the APEC week, which was a result of tough emission-reduction measures. The Chinese people hope to make APEC blue a "new normal".

C

Connectivity

APEC leaders approved the "APEC Connectivity Blueprint 2015-2025" to lay the foundation for all-round connectivity in the Asia-Pacific region, involving the construction of new roads, railways and shipping lanes; the slashing of regulatory constraints; and the easing of barriers to people-to-people interaction and mobility.

D

Dream

After advocating the China Dream, Chinese President Xi Jinping called for the fulfillment of the Asia-Pacific Dream of common development, prosperity and progress.

E

E-commerce

E-commerce and the Internet economy, a new engine for economic growth, was included in the APEC meetings' agenda for the first time. It's potential was on full display throughout China's Singles' Day, which coincided with the closure of the meeting on Nov. 11, when the online buying fiesta smashed records, with e-commerce giant Alibaba ringing-up sales of over 45 billion yuan (7.3 billion U.S. dollars) thanks to the world's biggest online retail sales day.

F

Fresh mission

APEC leaders have defined the fresh mission for the bloc in the aftermath of the global financial crisis, which is to smash a variety of "shackles" to embrace a new round of grand openness, communication and integration.

G

Global value chains (GVCs)

APEC leaders adopted a strategic blueprint for promoting GVC development and cooperation. This will help to better understand and support the "trading tasks" involved in adding value to cross-border final products, and contribute to the realization of a more effective policy and regulatory infrastructure for global trade.

H

Host

This is the second time China has played host to APEC leaders in 13 years. Since the 2001 Shanghai meeting, extraordinary changes have taken place in China, now the world's second largest economy compared to the sixth back then. The meeting is set to reshape APEC and the world.

I

Information Technology Agreement (ITA)

During the APEC meetings, the United States announced that it reached a consensus with China on resuming and finalizing negotiations on updating the World Trade Organization's ITA by including more products. It was confirmed by the Chinese Ministry of Commerce. The expansion of ITA has a significant commercial value, as consensus had been made upon the tariff exemption on about 200 items, involving about 2.77 trillion U.S. dollars of global trade. If an agreement is reached, it will become the first agreement on tariff cuts since the establishment of the WTO.

J

Japan

China-Japan relations saw signs of ice-breaking improvement during the APEC meetings. A four-point principled agreement to improve bilateral ties was reached, leading to the meeting between Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe in Beijing. Where will China-Japan relations go? The world is watching.

K

Korea

During the APEC meetings, leaders of China and the Republic of Korea (ROK) announced that the two countries had concluded substantive negotiations on a bilateral free trade agreement (FTA). President Xi Jinping said the FTA was "of landmark importance," while President Park Geun-hye said, "it is a day worth celebrating for both ROK and China."


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(Editor:张媛、Bianji)
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