Chinese President Hu Jintao said Thursday that China does not seek a large trade surplus and is ready to forge closer business ties with other APEC member economies and non-APEC countries and regions on the basis of equality and mutual benefit. 

He made the remarks in a speech delivered at the business summit of the Asia-Pacific Economic Cooperation (APEC) forum, which opened Thursday in Australia's largest city of Sydney.

Hu is here on a state visit to Australia and will attend the 15th APEC Economic Leaders' Meeting, scheduled for Sept. 8-9.

China takes an active part in regional economic cooperation and promotes trade and investment liberalization and facilitation in the Asia-Pacific region, he told the gathering of APEC business leaders.

China, which has concluded free trade agreements with the Association of Southeast Asian Nations, Chile and Pakistan, is now holding free trade negotiations with Australia, New Zealand and Singapore, and conducting feasibility studies with India and the Republic of Korea on free trade.

The growth of international trade has benefited all countries. China's enormous domestic demand and vast domestic market are driving its economic growth, he added.

"China does not seek a large trade surplus," Hu said.

China will continue to transform the pattern of trade growth, increase import and strengthen protection of intellectual property rights to ensure coordinated and balanced growth of import and export as well as contribute to the sustainable growth of global trade, he pledged.

The two-day APEC business summit, an important forum of the APEC meetings, will focus on trade, market and structural issues as well as energy, clean development, climate change and education. The theme of the business summit is "strengthening our community, building a sustainable future."

(Xinhua News Agency September 7, 2007)