On Aug. 29, 2013, Foreign Minister Wang Yi said at the press conference after the Special China-ASEAN Foreign Ministers' Meeting that China and ASEAN should take the promotion of regional economic integration as the focal point of their relationship in the future and should jointly push forward the regional economic cooperation in Asia.

Wang Yi said, China and ASEAN countries are all developing countries. Developing economy and improving people's livelihood are the most important tasks we face. In the future, we should focus on promoting regional economic integration, jointly maintain the momentum of economic development in Asia and contribute to world economic recovery. As charting the course of our future efforts, we may consider to set up several regional systems. First, a regional free trade system with Regional Comprehensive Economic Partnership (RCEP) as the priority, on the basis of 10+1 free trade arrangements. Second, an Asian currency stabilization system on the basis of the 10+3 financial cooperation. Third, an Asian investment and financing cooperation system on the basis of the Asian infrastructure financing platform and the Asian Development Bank. Fourth, an Asian credit system on the basis of the Asian bond markets and regional credit rating agencies.

Wang Yi pointed out that, the Asian countries are full of varieties and each country is with its own economic scale and development level. While promoting regional economic integration, we should respect the reality of regional development and push forward the integration through multiple channels and platforms. We need to properly handle the relationship between the Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Strategic Economic Partnership Agreement (TPP) and push the various free trade arrangements to supplement and reinforce each other instead of exclude and isolate each other. China and ASEAN have reached consensus in principle on building the upgraded version of China-ASEAN Free Trade Area (FTA). The two sides will be committed to building a more comprehensive FTA of higher quality so as to better benefit the businesses and people of the two sides. This will inject new vitality into the building of the regional free trade system.

Wang Yi stressed that, no peace, no development. Over the years, regional economic integration is developing vigorously. This is mainly attributed to years of peace and stability in the region. We should continue to cherish the peace in the region just as we take care of our eyes. We should, from the perspective of overall situation of regional development, strengthen coordination and communication,enhance mutual understanding and trust, well manage differences through friendly consultations and create a peaceful and stable environment for the development and prosperity of the region.