Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

The 24th APEC Economic Leaders’ Meeting will take place in the Peruvian capital Lima. The leaders will discuss topics, including international economic situation and regional free trade.

Photo taken on Nov. 15, 2016 shows the interiors of the main press room inside the International Media Center (IMC) of the 2016 APEC Economic Leaders' Week in Lima, capital of Peru. 2016 APEC Economic Leaders' Week kicked off on Monday in Lima. (Xinhua/Li Ming)

In Lima, Peru, world leaders are gathering at the annual APEC meeting to continue their work expanding trade among its members.

APEC is a forum created in 1989 with 12 member economies. China came on board in 1991, and there are now 21 members.

In the APEC region, there are 2.8 billion people, representing around 57 percent of world’s GDP and 49 percent of global trade.

The forum works together to promote open trade and create greater prosperity for its members. Host country Peru hopes to attract as much as 50 billion dollars in trade during the 2016 meeting, while looking to further strengthen ties with China, Peru’s biggest trading partner.