Leaders from the 21 Asia-Pacific Economic Cooperation (APEC) member economies will gather in Shenzhen, China, on November 18–19 for the 33rd Economic Leaders’ Meeting. It will be preceded by the APEC CEO Summit on November 17–18 and a final senior officials’ meeting on November 14–15. For China, hosting in its southern technology hub is a chance to showcase innovation and argue for open markets at a time of rising trade barriers.
Key dates
- Senior Officials’ Meeting: November 14–15
- APEC CEO Summit: November 17–18
- Economic Leaders’ Meeting: November 18–19
China’s priorities
Foreign Minister Wang Yi has highlighted three themes for China’s host year: openness, innovation and cooperation. Beijing is calling for a substantive outcome document with progress on trade and investment, connectivity, the digital economy and inclusive development. Earlier APEC meetings this year were held in Guangzhou, Shanghai, Suzhou, Chengdu and Dalian, with finance ministers meeting in Hong Kong in October.
A difficult backdrop
The meeting comes amid trade frictions between major economies, an energy shock caused by disruption in the Strait of Hormuz and slowing global growth, which the IMF projects at 3.1% this year. APEC members range from the United States and China to small Pacific economies, and translating a broad agenda into agreed outcomes will be challenging.
APEC rarely produces binding deals, but its corridors are where some of the year’s most important bilateral conversations take place.
Why Shenzhen
Once a small market town, Shenzhen became China’s first special economic zone in 1980 and is now home to major technology and electronics companies. Local authorities have added more than 50 bus-metro feeder routes, increased bus services by 20% and encouraged flexible working hours during summit week.
What to watch
- Bilateral meetings on the sidelines, particularly between the largest economies.
- Language on trade and supply chains in the leaders’ declaration.
- Digital economy and AI cooperation, a priority for the host.
- Energy and food security, given the Gulf crisis.
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