Coronavirus Crisis in SE Asia
China finances setting up of Apec fund to fight coronavirus
Sign up now: Get insights on Asia's fast-moving developments
Follow topic:
BEIJING • China has financed the setting up of a fund under Apec to fight Covid-19 and fuel economic recovery, President Xi Jinping said during a virtual meeting of the Asia-Pacific trade group on Friday, according to Xinhua news agency.
Mr Xi also said China supported waiving the intellectual property rights on Covid-19 vaccines and was willing to cooperate with other countries to ensure a stable and safe supply chain for vaccines.
China had provided more than 500 million vaccine doses to developing countries, Mr Xi said.
"Turn your face to the sun and the shadows will fall behind you," said Mr Xi, citing a New Zealand Maori saying, according to Xinhua.
"We have full confidence in humanity's victory over the pandemic through cooperation. We have full confidence in the prospects of world economic recovery. We have full confidence in a shared, bright future of humanity."
At a G-20 health summit in May, Mr Xi pledged an extra US$3 billion (S$4 billion) in aid over the next three years to help developing countries recover from the pandemic.
On regional economic integration, Mr Xi called for countries to build an open, fair and unbiased environment for digital commerce.
"We want to tear down walls, not build them; we want openness, not isolation; we want integration, not decoupling," Mr Xi told world leaders, including United States President Joe Biden.
Mr Xi said China has finished ratifying the Regional Comprehensive Economic Partnership - a free trade bloc consisting of 15 Asia-Pacific economies but not the US - and said he hoped the pact could come into effect by the end of this year.
Mr Xi was speaking at an extraordinary meeting held by New Zealand, ahead of a formal Apec gathering in November.
REUTERS
