President Hu Jintao on Thursday expounded on China's stance on striving for win-win cooperation by urging APEC member economies to increase mutual understanding through communications and strengthen cooperation while seeking greater mutual understanding.

Delivering a speech entitled "An Open Mind for Win-Win Cooperation" at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in South Korea's southeastern port city of Busan, Hu said that building a harmonious world with an open mind was a prerequisite to achieving win-win cooperation.

"We should respect the right of all countries to independently choose their development paths, promote greater dialogue and exchange in the spirit of democracy and equality, " Hu told some 800 APEC business leaders.

Hu arrived in Busan on Thursday to attend the APEC Economic Leaders' Meeting scheduled to start today. The main theme of this year's Economic Leaders' Meeting is "Towards One Community: Meet the Challenge, Make the Change."

The three-day APEC CEO summit, which kicked off here on Thursday morning, is an annual event that gives business leaders from the Asia-Pacific region a chance to participate in interactive discussions on regional and global economic and trade issues with APEC economic leaders, economists, policy makers and fellow business leaders.

The theme of this year's APEC CEO Summit is "Entrepreneurship and Prosperity: Building a Successful Partnership in the Asia-Pacific Region." In his speech, Hu said, "We should draw from one another's strong points, tolerate differences, and work together for a harmonious world characterized by lasting peace and common prosperity."

"In international relations, we should proceed from the common interests of all peoples, and work to expand their converging interests," he added.

"We should vigorously promote trade and investment liberalization and facilitation on the basis of mutual trust, further reduce restrictions on the export of technologies, and remove trade barriers, so as to create a fair, just, reasonable and open environment for trade," Hu said.

"We should support businesses that want to explore overseas markets and increase their investment abroad," Hu added.

China encourages well-established Chinese businesses to go global and, within the framework of market rules and laws and in the principle of reciprocity and mutual benefit, participate in international economic and technological cooperation and competition, Hu said.

"Dialogue and consultation, and seeking a proper settlement of disputes are also important aspects of win-win cooperation," Hu said.

"On the basis of equality and mutual benefit, we should, in the spirit of mutual understanding and accommodation, and with a sincere and pragmatic attitude, enhance communications and consultation to dissolve difficulties and disputes, and do our best to promote the continuous development of international trade and economic cooperation for the benefit of the whole world," he added.

Strengthening solidarity and coordination, and maintaining security and stability is an effective guarantee for win-win cooperation, Hu added.

Non-traditional security issues, such as terrorism, financial risks and natural disasters, are posing a threat to the very existence and development of mankind, Hu said.

"It is important that people of all countries work together in good faith to meet challenges and risks, and bring about a stable security environment for common development and prosperity," Hu said.

Earlier in the day, Hu met with South Korean Prime Minister Lee Hae-chan in Seoul.

During the meeting, Hu said he appreciated the South Korean government's recognition of China's market economy status. Such a move would be beneficial to the positive development of bilateral economic cooperation and trade, he added.

Hu said that he and South Korean President Roh Moo-hyun, in their talks on Wednesday, have agreed to make joint efforts to enhance mutual trust, expand economic cooperation, so as to push forward the Sino-South Korean comprehensive partnership to a new height.

On bilateral economic and trade ties, the Chinese president said the two countries should properly address and settle the specific problems through equal and friendly consultation and take the interests of bilateral ties into account.

For his part, Lee said Hu's proposals on further enhancing bilateral ties were of great significance and would contribute to bilateral cooperation.

The South Korean government attaches importance to developing mutually-beneficial economic cooperation and trade with China, Lee said.

He added that South Korea's relevant departments would enhance communications and consultation with the Chinese side, and properly address specific problems.

(Xinhua News Agency November 18, 2005)