SINGAPORE, Nov. 14 (Xinhua) -- Chinese President Hu Jintao and other leaders of the Asia-Pacific Economic Cooperation (APEC) member economies met Saturday to explore ways of countering the international financial crisis and reviving the world economy.

    During the two-day meeting, the APEC leaders were to focus on the financial crisis, climate change, protectionism, supporting a multilateral trading platform, and advancing regional economic integration.

Chinese President Hu Jintao attends the 17th Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting in Singapore, Nov. 14, 2009. (Xinhua/Ju Peng) Photo Gallery>>>

    APEC leaders exchanged views on "connecting the region" during the opening session.

    Chinese President Hu Jintao expounded on China's position concerning multilateral trading.

    Hu said in his remarks that safeguarding a stable multilateral trading mechanism and advancing the Doha Round negotiations would help promote the openness of international trade, curb protectionism and revive the world economy.

Chinese President Hu Jintao (2nd L) shakes hands with Malaysian Prime Minister Najib Tun Razak during the Asia-Pacific Economic Cooperation (APEC) Leaders' luncheon on Nov. 14, 2009 in Singapore. (Xinhua/Ju Peng) Photo Gallery>>>

    Such moves are of vital importance to all members, particularly the developing members, in countering the financial crisis, and conform to the common interests of all relevant parties, Hu said.

    "We must be committed to our promises, strongly oppose trade protectionism in all its manifestations, be vigilant against and correct the 'invisible' protectionism acts in various forms, reduce and eliminate trade barriers, and solve trade disputes through dialogue and coordination, thus creating favorable conditions of the full recovery and long-term development of world economy," Hu said.

    The Chinese president said China strongly supports trade and investment liberalization and facilitation and is committed to establishing a fair, open, equitable and non-discriminatory multilateral trading mechanism.

    "China is ready to work with other members to play a constructive role and advance the Doha Round negotiations, on the basis of locking in the existing achievements and respecting the Doha mandate," he said.

    "We are ready to speed up the settlement of the remaining issues and work for early comprehensive and balanced outcomes in the negotiations at an early date in order to achieve the goals of the development round," Hu said.

    The Chinese president also made a three-point proposal to APEC for improving its cooperation efficiency:

    -- To continue to promote trade and investment liberalization and facilitation, focusing on its own characteristics:

    "Through meeting the Bogor Goals on schedule next year by the APEC developed members, the APEC will demonstrate its determination to advance trade and investment liberalization, and oppose trade protectionism," Hu said.

    Such a move is of great significance to increasing confidence, expanding regional trade and pushing forward regional economic integration, Hu added.

    China supports APEC in "meeting the Bogor Goals on schedule by its developed members" as its priority working agenda, and to advance it steadily, Hu said.

    -- To increase input and advance economic and technological cooperation for more fruitful results:

    Hu announced that China will allocate 10 million U.S. dollars to establish an APEC cooperation fund in China, to encourage and support relevant agencies and enterprises to participate in APEC economic and technological cooperation.

    -- To reform and make innovations to inject new vitality to the APEC mechanism:

    APEC should adapt itself to new situations, meet the challenges, and steadily advance its reform and structural construction, the Chinese president said.

    Following the first-day session of the APEC Economic Leaders Meeting, the Chinese president, together with other leaders of the APEC member economies, met with representatives of the APEC Business Advisory Council.

    They exchanged views on opposing protectionism, promoting investment facilitation, climate change negotiations and advancing regional economic integration.

    The two-day Economic Leaders Meeting is the culmination of this year's annual APEC meetings, which also include the ministerial meeting, senior officials' meeting and a business summit.

    According to Chinese officials accompanying Hu, the Chinese president was to elaborate on China's stance on the battle against the financial crisis and the global economic recovery, China's position on the challenges posed by climate change, food and energy security, and China's views on APEC's future development.

    Since APEC's inception in 1989, APEC's total trade has grown 395 percent, significantly outpacing the rest of the world. During the same period, the GDP (in purchasing power parity terms) in the APEC region has tripled, while the GDP in the rest of the world has only less than doubled.

    APEC's 21 member economies are Australia, Brunei, Canada, Chile, China, China's Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.

    Special report: President Hu Visits Malaysia, Singapore, Attends APEC summit