Yang said China occupies an important position in the current world economy and its economic prospect has drawn great attentions. Hu, in his speeches, introduced China's economic development.

Hu stressed China always adheres to setting strategic restructuring of its economy as the main direction of Chinese economy, combining economic development with improving people's livelihoods, implementing the strategies of revitalizing the country through science and education and of strengthening the country through talents, and practising the basic state policy of opening up.

Hu said China's development will create good development opportunities for Asia Pacific. He welcomed all parties to participate in the process of China's reform, opening up and modernization.

APEC member economies spoke highly of China's significant contributions to regional stability and prosperity, and to the world economic recovery as well, Yang said.

Fifth, his attendance has advanced bilateral relations between China and related countries

During the event, Hu met with APEC leaders of Russia, Vietnam, Indonesia, Brunei and Canada and reached consensus after exchanging views on bilateral ties, regional situation and cooperation.

When meeting Russian President Vladimir Putin on the sidelines of the event, the two leaders reached broad consensus on major issues of common concern and on deepening the comprehensive China-Russia strategic cooperative partnership.

The two sides agreed to deepen strategic mutual trust, strengthen cooperation in key areas of investment, establish a cooperative mechanism on security and law enforcement, set up a mechanism of regular meetings between local government officials, ensure the success of China-Russia tourism year activities, and coordinate and cooperate closely on major regional and international issues to jointly promote regional and world peace, stability and development.

While meeting with Vietnamese President Truong Tan Sang, Hu stressed that the two sides should seek political solution to territorial disputes in the South China Sea, adhere to the path of shelving disputes and of common development and stick to bilateral negotiations and friendly consultation to maintain peace and stability of the South China Sea and avoid taking any unilateral action that may aggravate, complicate or internationalize the disputes.

Hu also met with his Indonesian counterpart Susilo Bambang Yudhoyono and Bruneian Sultan Hassanal Bolkiah respectively on the sidelines of the event and agreed to maintain high-level exchanges, enhance political mutual trust, expand cooperation in trade and investment and promote people-to-people exchanges.

Yang said the leaders agreed to actively implement the Declaration on the Conduct of Parties in the South China Sea, solve the issue through dialogue and consultation, advance practical cooperation in the South China Sea and jointly maintain regional stability.

Hu also reiterated China's support for the leading role of the Association of Southeast Asian Nations (ASEAN) in East Asia cooperation and support for the ASEAN integration process.

Yang said China-Canada relations maintained a good development momentum and have great potentials for cooperation.

While meeting with Canadian Prime Minister Stephen Harper, the two leaders expressed the will to strengthen cooperation, enhance mutual trust, promote trade and investment, expand people-to-people exchanges and strengthen communication and coordination in world and regional affairs.

On the sidelines of the event, Hu met with Japanese Prime Minister Yoshihiko Noda here on Sunday and made clear China's position on its relations with Japan and the Diaoyu Islands issue.

Yang said peace, development and cooperation are the popular sentiment of the Asia-Pacific region and the trend of the times. China needs Asia Pacific for development, and Asia Pacific needs China for prosperity, he added.

Yang said Hu's attendance at the event displayed China's will to combine China's development with that of Asia Pacific together, and showed its ideologies of good neighborliness, openness and inclusiveness, and cooperation for win-win results.

Yang said China will continue to work with all parties to create a better future of a peaceful, stable and commonly prosperous Asia Pacific.

(Xinhua News Agency September 10, 2012)