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2d ago

APEC Closes in Gyeongju as Lee Hands Chair to Xi and Leaders Adopt Gyeongju Declaration

Xi's prominence capped a summit defined by a tentative U.S.-China truce with enforcement and technology disputes still unsettled.

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China's President Xi Jinping talks with South Korea's President Lee Jae Myung during the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, October 31, 2025. Yonhap via REUTERS
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Overview

  • Leaders approved the Gyeongju Declaration along with outcome documents on artificial intelligence governance and demographic challenges.
  • South Korea formally transferred the APEC chair to Xi Jinping, who announced Shenzhen as host city for the 2026 leaders' meeting.
  • Xi promoted creating a World Artificial Intelligence Cooperation Organization and framed AI as a public good requiring safe and equitable development.
  • U.S. President Donald Trump left after talks with Xi that produced a provisional trade understanding involving partial tariff rollbacks, the resumption of soybean purchases, and pauses on some Chinese export controls, with verification and high‑tech carve‑outs still to be negotiated.
  • President Lee highlighted Korea's 'AI‑Based Society for All' and proposed an Asia‑Pacific AI center, pressed peace efforts on the Korean Peninsula, and faced Pyongyang's dismissal of denuclearisation as a pipedream.