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

The 24th Asia-Pacific Economic Cooperation Economic Leaders' Meeting in Lima is expected to help deepen the Asia-Pacific economic integration and boost the sluggish world economy.

2016 marks the 25th anniversary of China’s accession to the Asia-Pacific Economic Cooperation, or APEC.

Since 1991, China has had close and fruitful cooperation with all other member economies.

Currently, 62 percent of China’s trade, 83 percent of its inflow of foreign investment, and 68 percent of its outward foreign direct investment are conducted with APEC economies.

“China has contributed the consensus of the principle of the APEC cooperation. China has voluntarily made reduction of tariff….China has proposed the belt and road initiative and also established the AIIB that is going to help regional countries to develop their infrastructure. 出，aft Asia Pacific…to reach regional economic cooperation,” said Li Yong, senior fellow, China Association of Int'l Trade.

There is more China wants to do.

In 2014, 21 APEC member economies signed up in Beijing for China’s roadmap toward a free trade agreement spanning around the Pacific Rim.

They agreed to launch a two-year study into the feasibility of a Free Trade Area of the Asia-Pacific.

So, we are expected to see the approval of the study at this year’s APEC leaders’ meeting.

Besides, the US President-elect Donald Trump has turned his back on the US-led Trans Pacific Partnership trade agreement which excluded China as a potential member.

Many see the void as an opportunity for China to open and adapt its roadmap.

But there are concerns as Trump, during his election campaign, took a protectionist stance that is against globalization.

“He is not really against free trade, I think he will seriously look at the opportunity of the FTA in Asia pacific because this provides him with another chance to shape a free trade agreement that is supposed to benefit all countries, including the United States,” Li Yong said.

Last year in Manila, the APEC leaders highlighted the role of the China-backed free trade area as the main force to promote regional integration.

And according to a survey by the Pacific Economic cooperation Council, the Asia-Pacific free trade area, if implemented, will add around 2.4 trillion US dollars to the global economy.

Last year, the idea of actively participating in global economic governance was written into China’s 13th five year plan. Experts say that means China will comprehensively take part in managing the world economy, and more China’s plans will be presented. That is going to help break the Western monopoly on the global governing rules, and make them more fair, reasonable, and balanced.