On November 15, 2009, the second phase of the 17th Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC) was held at Singapore's Istana. Participating leaders focused their discussions on "sustaining growth". Chinese President Hu Jintao attended the meeting and delivered an important speech on the world economic growth. "China will work with the rest of the international community to meet the challenges together and seek inclusive, sustainable and balanced economic growth," Hu emphasized. China supports the sound development of multilateral trading regime and is ready to join hands with other nations to address the challenge of climate change, actively push forward regional economic integration and cope with non-traditional security threats.

At present, the profound impact of the international financial crisis still persists and the foundation is not yet solid for the world economic upturn, Hu said. The effort to fully restore world economic growth is beset with uncertainties and destabilizing factors, he added. In addition, the Doha Round negotiations have been fraught with difficulties and twists and turns, and global issues such as climate change, food security, energy and resource security, public health security and major natural disasters have become more pronounced. "These are all daunting challenges to the full recovery and long-term growth of the economy in the Asia-Pacific region and the world at large," he said. At this critical juncture, "we should all the more get united, follow the principle of openness, cooperation and mutual benefit, strengthen coordination and work together to secure the momentum of world economic recovery and promote balanced and orderly economic growth," said the Chinese president. Hu also made the following four-point proposal on sustainable development. First, make unremitting efforts to fully restore world economic growth. All economies should maintain the continuity and stability of their macroeconomic policies and take more solid and effective steps to boost consumption and expand domestic demand. "We should firmly uphold a fair, free and open global trading and investment system and maintain the free flow of goods, investment and services."

Second, take a long-term perspective and promote sustainable growth. Equal consideration should be given to both the current and long-term growth. "While restoring economic growth, we should optimize the energy mix, upgrade industries, develop green economy, and foster new growth areas, thus creating conditions for sustainable economic growth," Hu said. Developed members should provide financial, technological and capacity-building support to developing members. Developing members should, in the light of the actual circumstances, explore a path of sustainable growth suited to their own conditions and development stages, he said.

Third, follow a holistic approach and advocate inclusive growth. "While tackling the financial crisis, we should improve the industrial structure, raise the quality of economic growth, increase overall employment and enhance the capacity of fending off crises and risks," Hu said. "We should strengthen the social safety net and focus on resolving issues concerning people's well-being, including education, health care, old age support and housing, in order to achieve the goal of development for the people and by the people and development benefits shared among the people," he went on to say.

Fourth, engage in comprehensive coordination and pursue balanced growth. The international community, developed members in particular, should look at the development issues from a broader vision and in a more long-term perspective and fulfill their commitments on development aid, trade financing and preferential loan as soon as possible. They should open market to developing countries and help them improve the level of economic growth. He urged international financial institutions to help developing members maintain financial stability, promote economic growth and enhance their resilience and the capacity of economic repair in the wake of a crisis.

Global challenges require global responses. All sides should get united and join hands to meet the challenge of climate change. He said developed countries should continue to take the lead in emissions reduction after 2012 in keeping with the principles set out in the UNFCCC and the requirements made in the "Bali Roadmap". "They should at the same time provide financial support and technology transfer to developing countries to help them enhance capacity in tackling climate change," he noted. Developing countries, on their part, should also endeavor to meet the climate challenge by implementing sustainable development strategies, he added. "China will continue to take forceful measures on and make its due contribution to global cooperation on climate change. China would like to work with all other parties for positive outcomes at the conference, Hu said. All sides should promote regional economic integration with a multi-pronged approach. "We should promote regional economic integration at different levels, in various scopes and through multiple channels," said the Chinese president. "We should enhance cooperation in economic structural reforms and connectivity in infrastructure and other areas among member economies," he added. All sides should counter non-traditional security threats through coordination and cooperation. "We should jointly safeguard world food security through enhanced cooperation based on the global development partnership featuring equality, mutual benefit and win-win outcome and establish a new energy security concept featuring mutually beneficial cooperation, diverse development and common security through coordination," said the Chinese president. "We should step up coordination in the prevention and control of influenza A (H1N1), continue to deepen cooperation in disaster prevention and reduction," he added.

"China is committed to the path of peaceful development and a win-win strategy of opening-up, and will always pursue development that is peaceful, open and cooperative and make unremitting efforts toward a harmonious world of enduring peace and common prosperity," said Hu who also briefed leaders of other APEC member economies on the current situation of China's economy (the full text of the speech will be released separately).

Addressing the meeting, other APEC leaders pledged to continue to adopt economic stimulus policies to revive world economy, jointly promote balanced, inclusive and sustainable economic growth, support multilateral trading regime, and advance regional economic integration. They pledged to realize free and open trade and investment set forth in the Bogor Goals, to enhance economic and technological cooperation and to make efforts in enhancing security of mankind and improving the level of governance and transparency. They also agreed to strengthen the role of APEC and ensure its status as the most important forum for regional economic cooperation.

Following the meeting, Hu attended the reading-out ceremony of the declaration of this year's APEC meeting, with the theme of "Sustaining Growth, Connecting the Region".

At noon, President Hu attended a working luncheon of the APEC Economic Leaders Meeting.

Later, the 17th Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC) concluded.

On the evening of November 14, President Hu and other APEC leaders watched performances at the Esplanade, attended a dinner and took group photos.

Japan will host the next APEC Economic Leaders Meeting in 2010.