On November 19, 2004 Chinese President Hu Jintao delivered an important speech to the 2004 APEC CEO Summit held in the Chilean capital of Santiago. He pointed out that the development of mankind faces both unprecedented opportunities and severe challenges. The only correct choice for us is to promote win-win cooperation and our common objective can only be to realize sustainable development.

The CEO Summit is one of the major events held during the APEC informal leadership meeting. In recent years, the Chinese leaders always deliver important speeches to the Summit each year. This year President Hu Jintao is the first leader of APEC members addressing the Summit.

At 2:25 pm, President Hu arrived at the Piedra Convention Center located in the center of the east new district of Santiago along the Mapocho River and was welcomed warmly by Chairman Andrónico Luksic C of the Summit and Chief Executive Tung Chee Hwa of the Hong Kong Special Administrative Region. Later, amid the enthusiastic applause of hundreds of representatives of APEC members and the business community, President Hu delivered the important speech entitled Promoting Win-Win Cooperation and Realizing Sustainable Development, mainly elaborating the proposition of the Chinese government on how to realize sustainable development of the world economy against the background of increasing economic globalization.

Hu said that to realize the sustainable development of world economy is a major subject with both realistic and long-term significance, concerning both the development of all countries in the world and the future development of mankind. All the farsighted statesmen and responsible entrepreneurs across the world should make efforts to that end.

Hu pointed out that based on its own development practices China understands deeply that the development of all countries is a sustained process and to realize the long-range objectives of national development each country must take into considerations both the immediate and future development demands in formulating its development planning, selecting development strategies, defining development road and implementing development measures. Focus should be put on both improving the living standards of the people and long-term development interest. To promote win-win cooperation and realize sustainable development, we should work hard in the following areas:

First, supporting and accelerating development of the developing countries and maintaining the stable growth of world economy. To promote win-win cooperation and realize sustainable development priority should be given to the development of developing countries. The developed countries should pay greater attention to and consider the demands of the poor countries and especially make efforts to accelerate the development of developing countries and narrow down the increasingly expanding gap between North and South. To promote the development of developing members should become a major task of APEC.

Second, building and practicing a scientific concept of development and realizing social progress and mankind development in an all-round manner. In this new era we should adhere to the people-oriented, comprehensive, coordinated and sustainable development concept. Taking the all-round development of mankind as the objective, we should proceed from the basic interest of the people to seek and promote development and bring benefit to all the peoples in the world. Focus should be put on economic construction to push forward the economic, political and cultural development and realize economic development and comprehensive social progress.

Third, establishing a resource efficiency economic development model and developing recycle economy. The historical experience of human progress shows that we should never seek development at the cost of wasting resources and damaging the environment. Otherwise, mankind will have to pay a high price and ultimately the development itself will be threatened. Development should be promoted along the road of high technological content, sound economic efficiency, low resources consumption, little environmental pollution and full use of human resources.

Fourth, strengthening international economic and technological cooperation and creating a fair play field. The lasting peace and sustainable development of the world must be built on the basis of just, fair and reasonable share of the economic growth achievements. All countries in the world should learn from each other the development experience and enhance exchanges and cooperation in such areas as capital, state-of-the-art technologies, managerial expertise and human resources, which is of great importance to promoting the economic development of all countries and regions in the world.

Hu Jintao said that China stands ready to contribute to promoting win-win cooperation and realizing sustainable development. Maintaining the rapid and healthy development of Chinese economy will benefit both the global and regional economies. China will continue to implement the basic national policy of opening up and take an active part in the process of economic globalization.

Hu highly complimented the role of the business community in promoting the liberalization of trade and investment and economic and technological cooperation in this region and expressed confidence that the business leaders will surely play an active role in enhancing the involvement of the business community in the regional economic cooperation and make greater contributions to stimulating the sustainable economic development in the region and the world as a whole.

After the speech, Hu answered the questions of entrepreneurs present at the meeting on the relations between China's efforts to improve macro control and its economic development. Hu said that since the reform and opening up the Chinese economy has maintained sustained and rapid development. The Chinese government has taken policy measures of strengthening and improving macro control in a timely manner to cope with the unhealthy and unstable factors emerging in the process of economic development and has made clear results. Currently the Chinese economy continues with the momentum of stable growth and GDP from January to September this year increased by 9.5%. It is expected that China's economic growth rate throughout the year will stand at about 9%, basically coming in line with the average per annual growth rate of 9.4% over the past 25 years. We will take effective reform measures to maintain the momentum of stable growth of the Chinese economy.

Hu received enthusiastic applauses from the participants for his excellent speech and answers. President Charles Goodyear of the Australian company BHP, in his acknowledgement speech, highly commented the proposal on win-win cooperation and coordinated development raised by Hu Jintao during his speech. He said that the concept of win-win cooperation is very important because no single organization or party can realize the objective of sustainable development alone and the objective calls for the joint efforts of the government, businesses and the society. President Hu also emphasized the concept of coordinated development and sustainable development. Those of us who have been to China have all noticed the hospitality and ambition of the Chinese people who are well in a position to achieve not only development but more importantly the sustainable development.

The Economic Summit kicked off on November 19 will last for three days. The theme this year is "Succeeding in a Global World: New Challenges for Business". It is known that leaders of APEC members including Chile, Indonesia, the US, Singapore, Malaysia, New Zealand and Australia will also address the Summit or participate in dialogues.