China finances setup of APEC fund to fight Covid-19

President Xi Jinping said during a virtual meeting of the Asia-Pacific trade group that China has financed the setup of a fund under APEC to fight COVID and fuel economic recovery. This report was according to Xinhua news agency.

Xi also stated that China supported waiving the intellectual property rights on COVID vaccines and was willing to cooperate with other countries. This is to ensure a stable and safe supply chain for vaccines. China had provided more than 500 million vaccine doses to developing countries. According to Xinhua, a New Zealand Maori saying Xi stated that, turn your face to the sun and the shadows will fall behind you. He added that they have full confidence in humanity’s victory over the pandemic through cooperation. They have full confidence in the prospects of world economic recovery and in a shared, bright future of humanity.

At a G20 health summit, Xi pledged that an additional $3 billion in aid over the next three years to help developing countries recover from the pandemic. On the topic of regional economic integration, Xi called for countries to build an open, fair and unbiased environment for digital commerce. Xi told to the world leaders such as US president Joe Biden that, they want to tear down walls, not build them; they want openness, not isolation; they want integration, not decoupling. Xi also said that China has finished ratifying the Regional Comprehensive Economic Partnership (RCEP) and added that he hoped the agreement could come into effect by the end of 2021.

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