China is taking such concrete measures as increasing imports, strengthening protection of intellectual property rights, and implementing opening-up policy, aiming to promote trade and investment cooperation with other APEC members, said a Chinese minister.

China is changing trade promotion modes, expanding imports and promoting protection of intellectual property rights, making contribution to the development of the region and the world, Finance Minister Jin Renqing said at the 13th APEC (the Asia- Pacific Economic Cooperation) Finance Ministers' Meeting which started Thursday in Hanoi.

The country is pursuing development policies of peace, opening- up, cooperation for mutual benefit, he said, noting that it pledges to cooperate with other APEC members to build a world of harmonization, long-term peace, and common property.

Trade between China and APEC members, which annually accounted for 70 percent of the country's foreign trade in recent years, has increased 30 percent each year since 2003, he said.

Out of 10 countries and regions with which China had trade deficit in the first six months of this year, seven are in the Asia-Pacific region, he said, adding that the country's trade deficit stood at 78.44 billion U.S. dollars in the period.

At the two-day ministerial meeting, finance ministers from the 21 APEC economies, which represent more than half of the world's domestic product and over 41 percent of the world trade, are to focus their discussion on two main themes: "Promoting Public Finance Efficiency and Sustainability: Toward Stable and Efficient Revenue Sources," and "Financial Sector Reform to Attract Capital Flows."

Since its inception in 1989, APEC, which gathers some of the world's large economies, including China, the United States, Russia, Japan, Singapore and Vietnam, has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, create efficient domestic economies, and dramatically increase exports.

Source: Xinhua