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BEIJING, Dec. 7 (Xinhua) -- Chinese President Xi Jinping met with Foreign Minister Ri Yong Ho of the Democratic People's Republic of Korea (DPRK) in Beijing on Friday, calling for more efforts to advance the long-term, healthy and steady development of bilateral relations.

"China always stood ready for a fair, win-win approach to managing and resolving its trade, intellectual property rights and investment frictions with the U.S., and the meeting appears to confirm that it has put its money where its mouth is," he said.

The upgrade of the FTA will bring real benefits to the people and companies of the two countries and send a strong signal of further expanding trade and investment, Lee said.

The private sector has become the main contributor to job creation and technological innovation and an important source of tax revenue, he said, adding that the sector has played an important role in developing the socialist market economy, transforming government functions, transferring surplus rural labor and exploring the international market.

In the Asia-Pacific, the establishment of APEC is such a success story. Its birth and growth echoed the historical trend of openness and integration, our region's fervent desire for development and our people's need to meet challenges through cooperation. Openness and cooperation in the Asia-Pacific has not only boosted its prosperity but also injected vitality into the vast ocean of global economy. Today's Asia-Pacific has the world's most dynamic and promising economy, which is recognized as a key engine driving global growth.