APEC key cog in free trade, biz expansion

Amid an uneven and fragile global economic recovery, stronger economic ties within the Asia-Pacific region can help sustain business growth by keeping markets open, stabilizing supply chains and boosting trade and investment in 2026, said market watchers and Chinese exporters.

Speaking at a session during the first senior officials' meeting and related meetings of APEC China 2026, held in Guangzhou, Guangdong province in early February, Zheng Yongnian, dean of the School of Public Policy at the Chinese University of Hong Kong (Shenzhen), said both developed and developing Asia-Pacific Economic Cooperation economies are grappling with the common challenge of development as geopolitical tensions, deglobalization, along with economic and technological nationalism reshape cross-border flows of capital, goods and talent.

Zheng said mounting fragmentation in the global economy has made growth pathways more complex, with trade, investment and innovation increasingly influenced by political and strategic considerations.

"In such an environment, openness becomes even more important," he said, arguing that economic growth depends on the free movement of production factors.

As the 33rd APEC Economic Leaders' Meeting will be held in Shenzhen, Guangdong, in November, further rounds of senior officials' meetings will be held in Shanghai in May and in Dalian, Liaoning province, in August, according to information released by the Ministry of Foreign Affairs.

Starting from May, about 10 sectoral ministerial meetings or high-level events will take place in different locations, covering areas such as goods trade, trade in services, digital economy, transportation, human resources, small and medium-sized enterprises, energy, food security and finance.

Guo Xueyan, director of the General Administration of Customs' department of international cooperation, said China has positioned APEC as a key platform to align more proactively with high-standard international trade and economic rules.

"An open APEC economic framework is essential for sustaining both regional and global growth," Guo said.

Customs data show that China's total trade with other APEC economies reached 26.29 trillion yuan ($3.8 trillion) in 2025, accounting for 57.82 percent of the country's overall foreign trade for the year.

Last year, China's trade with emerging economies such as member states of the ASEAN, Peru and Mexico maintained strong momentum, while rapid growth in overland and air freight reduced reliance on a single maritime transport model. Progress in supply chain connectivity has deepened, with closer links to ASEAN's rail networks and a more resilient regional logistics system taking shape, according to the GAC.

At the same time, China has been building high-end manufacturing supply chains with Japan and South Korea, expanding infrastructure cooperation with Southeast Asia, and strengthening integration of resource and energy value chains with Latin America — fostering a more complementary and mutually beneficial regional industrial ecosystem.

Ningbo Cetus Electric Appliance Co, a Ningbo, Zhejiang province-based manufacturer of electric fans, saw its exports to South Korea, an APEC economy, reach 70 million yuan in 2025, up 45 percent year-on-year. It shipped 10 containers to its South Korean clients in early February, statistics from Ningbo Customs showed.

"We will further expand customized offerings of high-end electric fans to other APEC markets this year," said Zhu Dongri, the company's director of the foreign trade unit, adding that based on current order levels, Ningbo Cetus expects strong growth to continue in 2026, with exports to South Korea topping 1.2 million units.

Guangzhou Zuofun Cosmetics Co exported more than 1.15 million yuan worth of cosmetics, including perfumes, creams and facial masks, to other APEC economies — mainly Indonesia and Malaysia — in January, an increase of nearly 200 percent year-on-year, said Guangzhou Customs.

Wu Shuang, the company's chief financial officer, said the firm sees solid potential in APEC markets this year, citing rising consumer demand and expanding retail channels across Southeast Asia.

zhongnan@chinadaily.com.cn