Chinese President Hu Jintao arrived in Russia Thursday for the annual economic leaders' meeting of the 21-member Asia-Pacific Economic Cooperation (APEC) forum, as analysts suggested China grasp the opportunity to push forward economic cooperation and innovation.
Hu and other leaders of APEC members in the Far East city Vladivostok will discuss four major topics including trade and investment liberalization, regional economic integration, food security and establishment of reliable supply chains, as well as cooperation in fostering innovative growth.
Analysts said the first three aspects are common topics in APEC meetings slated for Saturday and Sunday, but fostering innovative growth is new and China may work to enhance cooperation on technology and innovation under the framework of this forum.
In an address published by the APEC website on Aug 25, Russian President Vladimir Putin said that Russia's chairmanship comes under the motto "Integrate to Grow, Innovate to Prosper."
"Russia has an edge in technology and innovation and it intends to attract more investment to the Far East and further integrate with the Asia Pacific region, and that is why it is holding the forum in Vladivostok rather than places like St Petersburg," Lu Jianren, a researcher with the Institute of Asia-Pacific Studies under the Chinese Academy of Social Sciences, told the Global Times.
Lu said technology cooperation inspired by innovative growth may shed some light on the forum.
Hu is scheduled to deliver a keynote speech at the APEC CEO summit, during which he will talk about China's current economic situation and economic policies, and make proposals on developing infrastructure for sustainable growth in the region, Xinhua reported.
"China will continue to work on enlarging economic cooperation and pushing forward trade liberalization," said He Weiwen, co-director of China-US-EU Study Center under the China Association of International Trade.
China can use this platform to strategically create opportunities and room for growth since it is facing a sluggish economy, especially in exports, He told the Global Times.
Ministers from APEC member economies on Thursday agreed to present a list of 54 items of goods for tariff reduction to the upcoming APEC informal economic leaders' meeting for approval, Xinhua reported.
Major leaders of APEC members including Japanese Prime Minister Yoshihiko Noda and the US Secretary of State Hillary Clinton will be present.
"Diplomatic dialogues are sidelines of the forum and the major topics will focus on economic ones. So I don't think there will be too much emphasis on regional diplomatic relations," He said.
China will play host to the 2014 APEC meeting, Chinese Assistant Foreign Minister Ma Zhaoxu said upon the conclusion of the APEC ministerial meeting on Thursday.
Hu will announce the decision during this year's meeting.
Xinhua contributed to this story