The APEC Business Advisory Council (ABAC) achieved several positive results this year, said an official from the China Council for the Promotion of International Trade (CCPIT) at a press conference on Sunday.
The ABAC is the main channel for Asia-Pacific business communities to participate in APEC cooperation. It submits a policy recommendation report to APEC economic leaders every year, with an aim to provide suggestions for economic cooperation and prosperity in the Asia-Pacific region.
The fourth ABAC meeting is currently being held in Shenzhen, which will play host to the 33rd APEC Economic Leaders' Meeting -- the first time in 12 years that China has hosted the top event of the region's highest-level, most extensive and most influential economic cooperation mechanism.
At the press conference, Wu Meng, head of the Department of International Cooperation at CCPIT, said the ABAC has established five working groups on topics regional economic integration, sustainable development, digital innovation, connectivity, and financial economics, to address the concerns of the Asia-Pacific business community.
Since the beginning of this year, representatives from various economies have engaged in in-depth discussions and extensive consultations, achieving several positive outcomes.
"We have reached 14 outcome documents, including ABAC Report to APEC Economic Leaders, eight letters to APEC ministers on trade, finance, energy, Small and Medium Enterprises (SMEs), digital economy, food, transport, and women, and five separate declarations," he said.
Wu said the CCPIT has worked with business communities in APEC economies to contribute wisdom and strength to Asia-Pacific cooperation in the 2026 APEC "China Year".
"We work with Chinese representatives and incoming representatives of the ABAC to do research and develop high-quality proposals, incorporating opinions and suggestions from the Chinese business community on topics such as artificial intelligence applications, zero-carbon transportation, cross-border QR code payments, green agriculture, and supply chain cooperation. We will promote the transformation of relevant initiatives into practical actions by the business community, continuously enriching the content of Asia-Pacific business cooperation," he said.
China officially joined APEC in 1991. Shenzhen, adjacent to Hong Kong, will become the third Chinese city after Shanghai and Beijing to welcome this gathering.
APEC Business Advisory Council achieves positive results this year: official
