China hosting APEC at a critical time, say experts

China's hosting of APEC comes at a critical time, as the region is poised to drive global growth and contribute to world peace.

This was discussed by former officials, Asia-Pacific Economic Cooperation representatives, and business leaders during the Boao Forum for Asia Annual Conference 2026 on Wednesday.

"China is ready to work with all parties concerned toward the goal of building an Asia-Pacific community to prosper together," said Chen Xu, chair of the APEC 2026 Senior Officials' Meeting and president of China Public Diplomacy Association.

Chen was addressing a panel discussion titled "Revitalizing APEC: Towards the Vision of an Asia-Pacific Community" at the Boao Forum for Asia Annual Conference 2026 in South China's Hainan province.

Chen said China will focus on three priorities — openness, innovation and cooperation — with the goal of building consensus, charting the course for cooperation and injecting new impetus to the region.

Jenny Shipley, former prime minister of New Zealand, said she is worried that "process" is dominating APEC discussions today instead of results, and regional leaders should ensure that statements can be turned into actions to revitalize the unique strength of APEC in terms of flexibility and agility.

Shipley urged regional leaders to maintain dialogue even though there are differences. She added that the priorities set by China will help APEC move forward.

Noting that there is confusion in some parts of the world about trade and the role of governments, Carlos M. Gutierrez, United States' former commerce secretary, said Asia has the opportunity to lead the way as the region has been clear about economic growth.

Gutierrez, however, added that APEC should avoid becoming bureaucratic and make sure its initiatives are closely linked to economic prosperity.

As China has chosen Shenzhen, Guangdong province, one of its most successful special economic zones and a window of opening-up, to host the APEC Economic Leaders' Meeting in November, George Yeo, former foreign minister of Singapore, said the decision shows how China sees its future as part of the Asia-Pacific community and the world beyond.

Noting that the world might be entering a "dark phase" with the zero-sum mindset getting more prevalent, Yeo said he hopes China can set the tone for this year's APEC to go around hard points and keep an upbeat mood for economies to continue working on common grounds.

Eduardo Pedrosa, executive director of the APEC Secretariat, said APEC 2026 will be the first five-year review of the APEC Putrajaya Vision 2040, which was adopted in 2020, to build an open, dynamic, resilient, and peaceful Asia-Pacific Community.

"This vision really requires the participation of all stakeholders," said Pedrosa, noting that the vision is for future generations and the prosperity of all.