China Uses APEC Chairmanship to Push Free Trade, AI Rulemaking
China is using its role as chair of the Asia-Pacific Economic Cooperation (APEC) forum to strengthen its influence over free trade, artificial intelligence (AI), and digital economy rulemaking. With US-China tensions escalating across advanced technology and trade, Beijing aims to secure greater control over the regional agenda.
The FTAAP is a long-term free-trade initiative covering all APEC members. China plans to prepare a separate statement on the FTAAP based on the agreement reached at the APEC trade ministers' meeting in May. This will help member economies build capacity to join high-standard economic and trade agreements while advancing cooperation in a flexible and practical way.
The push for AI and digital economy cooperation is another major focus for Beijing. China plans to prepare a separate outcome document on AI and the digital economy based on the results of APEC Digital Week last month. It has already drafted a vision for APEC digital and AI cooperation this year and proposed digital transformation as a new engine of regional growth.
The Shenzhen Declaration, prepared by Beijing, is expected to focus on the FTAAP, AI and the digital economy, connectivity, and inclusive growth. China is also highlighting the growth needs of developing economies, as well as small and medium-sized enterprises, energy access, and vocational training. The strategy is to pair its free-trade and AI growth agenda with inclusiveness in an effort to win broad support within APEC.