CHINA will contribute US$10 million to Asia-Pacific Economic Cooperation (APEC) to support its institutional development and capacity building, President Xi Jinping said yesterday.

    Xi made the announcement after welcoming the leaders of the 20 other APEC economies to the Yanqi Lake compound on the outskirts of Beijing as the 22nd summit got down to business.

    In a bid to boost developing countries in APEC, Xi also said China will provide 1,500 apprenticeship positions to help their capability in areas such as trading and investment.

    The president stressed the goal of regional economy integration — a topic that was the first discussion point of the yesterday morning session.

    “I have a feeling, the academics and the business community share the same wish, which is to promote regional economy integration,” said Xi.

    The theme of the meeting was “building an Asia-Pacific partnership for the future,” Xi said. It was also set to discuss promoting economic development, reform and growth, and improving infrastructure.

    U.S. President Barack Obama and Russian President Vladimir Putin were among the leaders at the summit.

    (SD-Agencies)